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 US$3.25M to US$3.87M. The share count increased from 23,895,000 to 28,470,000 equity shares of US$0.14 each, expanding the total diluted voting capital.
The market: Novelix Pharmaceuticals shares ended the week at US$0.9, down 0.31%, trading between US$0.87 and US$0.92 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.
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