Evexia Lifecare Ltd. engaged in the trading of pharmaceuticals, chemicals, manufacturing of intermediates, agricultural produce and various other products of consumer goods, has announced that it has executed Term sheet with Diponed Bio Private Limited for its intention to subscribe on preferential basis 18,600 fresh fully paid up equity shares.
Upon completion of the issuance and allotment of the Subscription Shares, the Evexia shall hold 65% of the post issue share capital of the Company and the existing Shareholders of Diponed Bio will hold 35% (thirty five percent) of the post issue share capital.
Further, Evexia would also provide Rs. 20.00 crores to fund the Business of the Company. The said amount shall be provided in the form of quasi capital, without interest (“Quasi Capital”) in tranches. Furthermore, Evexia can opt to convert part of the Quasi Capital, into Equity to maintain it’s 65% shareholding in the Company.