Senores Pharmaceuticals Limited has issued a clarification regarding Item No. 1 of the explanatory statement annexed to its Extra-Ordinary General Meeting (EGM) Notice dated January 07, 2026. This clarification pertains to the issue and allotment of 11,70,000 convertible equity warrants by way of preferential issue on a private placement basis. The company has replaced the first proviso on page 19 of the EGM notice. The revised proviso states that if the issuer's Articles of Association determine a floor price higher than that under SEBI regulations, the higher price will be considered. Senores Pharmaceuticals obtained a valuation report dated January 07, 2026, from Maitri Valuation Private Limited to determine the fair value of equity shares upon warrant conversion. The Articles of Association do not prescribe a specific valuation method. The rationale for submitting the valuation report is that while the issue quantum is less than 5% of the post-issue share capital (making Regulation 166A of SEBI ICDR Regulations not strictly applicable), the Articles of Association require a valuation report for determining the floor price. The report, issued by a registered valuer, determines the fair market value of equity shares proposed to be issued upon warrant conversion, in accordance with proviso to Regulation 164(1) of SEBI ICDR Regulations. The registered valuer assigned 100% weightage to the market approach, as the values derived from the Asset Approach (Net Asset Value Method) and Income Approach (Profit Earning Capacity Value Method) were lower than the market approach value. This market approach value, which also aligns with the Floor Price as per SEBI ICDR Regulations, is ₹812.00 per share. The clarification and revised details are available on the company's website and the stock exchange websites.
