Investment6 Aug 2026, 05:20 pm
Morepen Labs Subsidiary Allots ₹20 Cr Equity Shares
AI Summary
Morepen Laboratories Ltd announced that its wholly-owned subsidiary, Morepen RX Limited (MRX), has allotted 2 crore equity shares of Rs. 10 each at par, aggregating to Rs. 20 crore. This allotment is pursuant to a rights issue by MRX to the parent company. Following this, Morepen Laboratories' shareholding in MRX has increased to 2,70,82,356 equity shares, though MRX continues to remain a wholly-owned subsidiary. The funds are intended to strengthen MRX's capital base and support its business operations in the pharmaceutical sector, specifically in the sales and marketing of Branded Prescription ('Rx') products.
Key Highlights
- Morepen RX Limited allotted 2 crore equity shares worth ₹20 crore.
- The allotment was part of a rights issue to the parent company, Morepen Laboratories.
- Morepen Laboratories' stake in MRX increased, but it remains a wholly-owned subsidiary.
- The investment aims to bolster MRX's capital and support its Rx product business.
- MRX reported FY26 turnover of ₹5,449.84 Lakh and net worth of ₹47.72 Lakh.
Price Impact
More from MOREPENLAB