Archit Organosys to increase capital, issue shares for acquisition

Archit Organosys Ltd announced that its Board of Directors has approved an increase in authorised share capital from ₹25 Crores to ₹60 Crores. The company also approved the issuance of up to 3,72,48,344 equity shares at ₹65 per share via preferential issue, for consideration other than cash. This issuance is for the acquisition of 1,86,24,172 equity shares (92.20% of paid-up capital) of M/s. Archit Life Science Limited, at a valuation of ₹130 per equity share. Both proposals are subject to shareholder approval at the upcoming Annual General Meeting and other regulatory approvals.