Guj. Themis Biosyn

Gujarat Themis Biosyn completed the acquisition of 100% of MicroBiopharm Japan through its wholly owned subsidiary Themis Biosyn Japan, investing INR475 crore as capital contribution and INR745 crore as loan under an INR800 crore loan facility. The transaction, first announced in May, closed after regulatory approvals for a total consideration of JPY21.5 billion from funds advised by T Capital Partners. MicroBiopharm Japan operates three GMP-compliant plants and recorded FY26 revenue of JPY9.5 billion, with about 40% generated outside Japan, and its existing management team stayed to lead operations. The close followed a INR750 crore qualified institutions placement allotted in late August and INR585 crore of secured unlisted debentures allotted in mid-September in 10% and 17.75% series. The board had approved a INR335 crore preferential issue in early September subject to shareholder and exchange approvals. The company had reported FY26 revenue of about INR166 crore from fermentation-based intermediates and APIs with base capacity sold out. Its ferro API block had been commissioned during the year.

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Gujarat Themis Biosyn allotted 58,500 secured, unlisted non-convertible debentures aggregating Rs 585 crore on a private placement basis on 16 September. The issue comprised 29,500 debentures aggregating Rs 295 crore with a 60-month tenure at a 10% coupon and 29,000 debentures aggregating Rs 290 crore with an 18-month tenure at a 17.75% coupon, secured against fixed assets, brands, current assets, escrow cashflows and receivables with a personal guarantee from promoter Dr Sachin Patel. Proceeds were earmarked inter alia for investment in its Japanese subsidiary to finance the acquisition of MicroBiopharm Japan and for general corporate purposes. The board had approved issuance of up to Rs 585 crore on 10 September with tenure, coupon and security to be disclosed. The company had allotted 2,11,86,440 shares for about Rs 750 crore through a qualified institutions placement on 28 August and approved a Rs 335 crore preferential issue on 1 September. Revenue was about Rs 166 crore in FY26, virtually all from fermentation-based intermediates and active ingredients, with base capacity sold out through the June quarter. CARE had placed its BBB long-term and A3+ short-term ratings on watch negative on 17 July citing acquisition funding.

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Gujarat Themis Biosyn's board approved the private placement of non-convertible debentures worth up to ₹585 crore. The securities would be unlisted, while their tenure, coupon, security and payment terms were to be disclosed later. The company had allotted a ₹750 crore QIP in August and its board had approved a ₹335 crore preferential issue on September 1. CARE had placed its long- and short-term ratings on watch negative in July over acquisition funding.

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Sept 10 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.NS:

• GUJARAT THEMIS BIOSYN - APPROVES ISSUANCE OF NCDS UP TO 5.85 BILLION RUPEES ON PRIVATE PLACEMENT BASIS

Source text: ID:nBSE6dwT8k

Further company coverage: GTHM.NS

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Sept 7 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.NS:

• GUJARAT THEMIS BIOSYN - BOARD TO CONSIDER FUND RAISING VIA NON-CONVERTIBLE DEBENTURES ON SEPT 10

• TO CONSIDER RAISING FUNDS BY WAY OF PRIVATE PLACEMENT

Source text: ID:nBSE7r632Z

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Gujarat Themis Biosyn's board approved a preferential issue of up to 8,210,786 equity shares at ₹408 each, potentially raising ₹335 crore, subject to shareholder and stock-exchange approvals. Pharmaceutical Business Group (India), a promoter-group entity, was named for ₹250 crore, while Yusuf Khwaja Hamied, Special Situation India Fund, India Special Assets Fund III and ISAF III Onshore Fund were proposed for the non-promoter portion. The company completed a ₹750 crore QIP on 28 August 2026. Its FY26 revenue was about ₹166 crore, almost entirely from fermentation-based pharmaceutical intermediates and APIs.

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Sept 1 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.NS:

• TO ISSUE SHARES WORTH UP TO 3.35 BILLION RUPEES

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Gujarat Themis Biosyn closed its qualified institutional placement on August 28 after receiving applications and funds from eligible QIBs. It set the issue price for 21,186,440 equity shares at ₹354 each, implying proceeds of about ₹750 crore and a 4.98% discount to the ₹372.57 floor price. The issue had opened on August 25 as part of an equity-raising plan of up to ₹1,000 crore linked to the company’s acquisition programme. Gujarat Themis Biosyn reported FY26 revenue of ₹165.82 crore from its fermentation-based pharmaceutical-intermediates business.

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Aug 28 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.NS:

• GUJARAT THEMIS BIOSYN - APPROVES CLOSURE OF QIP ISSUE PERIOD ON AUGUST 28, 2026

Source text: ID:nBSE1bf2Wx

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Gujarat Themis Biosyn approved the opening of a qualified institutions placement of equity shares to eligible institutional buyers. It set the floor price at ₹372.57 a share, with a possible discount of up to 5% under the approved terms. The board also adopted the preliminary placement document and application form, after shareholders approved the issue by special resolution on 22 August. The company had outlined up to ₹1,000 crore of equity funding for acquisitions, while its FY26 revenue was ₹165.82 crore.

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CTL Trusteeship, acting as debenture trustee, has disclosed that the entire promoter holding of Gujarat Themis Biosyn is now indirectly encumbered. Vividhmargi Investments, which owns 98.99% of promoter entity Pharmaceutical Business Group (India), has pledged 51% of PBGIL and given a non-disposal undertaking over another 47.99% to secure debentures issued by OSS Software Solutions Labs. PBGIL holds 47.02% of Gujarat Themis Biosyn, meaning the entire promoter stake is now indirectly tied to the third-party debt. The encumbrance was created on 29 June 2026 under a debenture trust deed dated 25 June 2026.

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Gujarat Themis Biosyn has initiated arbitration proceedings against Optimus Drugs Private Limited, claiming over ₹90 crore for breach of a supply agreement. The company alleges Optimus Drugs terminated the contract in violation of agreed terms and failed to meet mandatory take-or-pay purchase obligations. It is seeking ₹75 crore as break fees, nearly ₹24 lakh in interest on delayed payments, and ₹15 crore in additional damages and financial losses. The arbitration is before a sole arbitrator. The company stated it does not expect any financial liability from penalties, as it is the claimant seeking recovery. No timeline for the arbitration was disclosed.

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June 26 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.NS:

• GUJARAT THEMIS BIOSYN - INITIATES ARBITRATION PROCEEDING AGAINST OPTIMUS DRUGS

• GUJARAT THEMIS BIOSYN - CLAIMS OVER 902 MILLION RUPEES FROM OPTIMUS DRUGS

Source text: [ID:]

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Gujarat Themis Biosyn's board has approved raising up to ₹1,000 crore through a qualified institutional placement, alongside a separate preferential issue to non-promoters whose terms are yet to be finalised. The fund-raising, equivalent to about a fifth of the company's market value, is intended to finance its recently announced ¥21.5 billion acquisition of Japanese CDMO MicroBiopharm Japan. The QIP will be conducted in one or more tranches subject to shareholder and regulatory approvals. The company did not specify the pricing or the number of shares to be issued.

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June 3 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.NS:

• GUJARAT THEMIS BIOSYN - TO CONSIDER FUND RAISING PROPOSALS AT BOARD MEETING ON JUNE 6, 2026

Source text: ID:nBSE2pPqgj

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May 25 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.NS:

• GUJARAT THEMIS BIOSYN LTD - APPROVES PROPOSAL FOR PREFERENTIAL ISSUE OF EQUITY SHARES TO NON-PROMOTERS

Source text: ID:nBSE7yzy2T

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May 22 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.NS:

• SIGNS DEFINITIVE AGREEMENT TO BUY MICROBIOPHARM JAPAN

• DEAL CONSIDERATION ABOUT JPY 21.5 BILLION (13 BILLION RUPEES)

Source text: ID:nBSE7BLGbP

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June 13 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.NS:

• CEO TAPAS GUHA THAKURATA RESIGNS

• SACHIN PATEL RE-DESIGNATED AS MANAGING DIRECTOR

Source text: ID:nBSE44dyYS

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Feb 14 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.BO:

• GUJARAT THEMIS BIOSYN LTD - APPOINTS BHAVIK SHAH AS CFO

Source text: ID:nBSE5q7g9f

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Oct 25 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.BO:

• BHARAT DESAI TO RETIRE AS CFO EFFECTIVE 31 DECEMBER 2024

• APPOINTS BHAVIK SHAH AS INTERIM CFO

Source text for Eikon: ID:nBSEK7y2t

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May 14 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.BO:

• APPROVED ISSUE OF 1 BONUS SHARE FOR EVERY 2 SHARES

Source text for Eikon: ID:nBSE8JV51D

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May 4 (Reuters) - Gujarat Themis Biosyn Ltd GTHM.BO:

• TO CONSIDER PROPOSAL OF SUB-DIVISION OF SHARES

Source text for Eikon: ID:nBSE8BJnQy

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