Astonea Labs Approves Variation in IPO Objects, Allocates ₹6,25,00,000 for Strategic Investment in Damaira Pharmaceuticals

Astonea Labs Ltd. has approved a variation in the objects of its Initial Public Offer (IPO) at an Extraordinary General Meeting. The company will reallocate ₹6,25,00,000, which is 16.59% of the total IPO proceeds, towards the acquisition of equity shares in Damaira Pharmaceuticals Private Limited. This decision comes after the company found that ₹8,08,68,232 remained unutilised out of the total IPO proceeds as on 26th February 2026. No dissenting shareholders were reported, and the approval process was carried out in compliance with the Companies Act, 2013, SEBI ICDR Regulations, and Secretarial Standard-2 (SS-2). The board had earlier approved the acquisition of up to 33.33% equity stake in Damaira Pharmaceuticals at its meeting held on 3rd December 2025.