Evexia Lifecare to Acquire 65% Stake in Diponed Bio for INR 1,86,000 with Additional Funding of INR 20.00 Crores

Evexia Lifecare Ltd has executed a term sheet with Diponed Bio Private Limited for the intention to subscribe to 18,600 equity shares on a preferential basis. The subscription amount is INR 1,86,000. Upon completion of the issuance and allotment of the subscription shares, Evexia will hold 65% of the post-issue share capital of the company. Evexia will also provide INR 20.00 crores to fund the business of the company in the form of quasi capital, without interest, in tranches. Evexia can opt to convert part of the quasi capital into equity to maintain its 65% shareholding in the company. The board of Diponed Bio will consist of 6 directors, including 1 independent director. The existing shareholders will nominate 2 directors, and Evexia will nominate 3 directors.