Srinidhi and Belide lift Novelix Pharma stake via warrant conversion

What's the deal? Srinidhi Fine-Chemicals LLP and Narahari Belide raised their stakes in Novelix PharmaceuticalsDealroom has a profile for this one. Try Dealroom → by converting warrants into equity shares. The shares were issued on a preferential allotment basis, with the two parties acting in concert.

What changed? Before the deal, Srinidhi Fine-Chemicals held 7,902,000 shares, or 33.07% of Novelix's diluted capital, alongside 2,100,000 warrants. Belide held a 4.40% stake. The conversion took place on July 9, 2026, lifting both parties' holdings.

Capital impact: Novelix's equity share capital rose from Rs 238,950,000 to Rs 284,700,000. The share count increased from 23,895,000 to 28,470,000 equity shares of Rs 10 each, expanding the total diluted voting capital.

The market: Novelix Pharmaceuticals shares ended the week at ₹66.50, down 0.31%, trading between ₹64.00 and ₹67.49 during the session.

The signal: Preferential allotments and warrant conversions let promoters and aligned investors deepen control while injecting fresh capital into a company. The move consolidates the acquirers' influence over Novelix as its share base widens.

Read more: Investoo Market