Archit Organosys Approves Preferential Issue for Acquisition

Archit Organosys Ltd's Board of Directors has approved an increase in authorized share capital from ₹25 Crores to ₹60 Crores. This move facilitates a preferential issue of up to 3,72,48,344 equity shares at ₹65 per share. The issuance is for consideration other than cash, through a swap of equity shares, to acquire 1,86,24,172 equity shares (92.20% of paid-up equity) of Archit Life Science Limited. The acquisition values Archit Life Science Limited at ₹130 per equity share. Both the capital increase and the share issuance are subject to shareholder approval.