In a regulatory filing, the company informed that a meeting of the board of directors of the company is scheduled to be held on Friday, 23 June 2023, to recommend and approve issue of bonus shares to the existing equity shareholders of the company.

The company's board will also consider and approve sub-division of shares/ stock split of the company.

Apart from these, the board will conside consider and approve increasing of borrowing limit from Rs 50 crore to Rs 1000 crore by issuance of debt securities ie. non -convertible debentures (NCD), bank term loans, etc.

The limit for investment by way of acquisition of asset such as plant & machinery, securities, etc. up to Rs 1000 crore will also be considered at the June 23 meeting.

Remedium Lifecare is a pharmaceutical company aligned across two business verticals viz. products and services. The company's Products business comprises trading and sale of APIs and intermediates to innovator and generic pharmaceutical players in both domestic and international markets including the regulated markets.

The company reported a net loss of Rs 4.78 crore in the quarter ended March 2023 as against net loss of Rs 1.16 crore during the previous quarter ended March 2022. Sales rose 87.59% to Rs 75.58 crore in Q4 FY23 over Q4 FY22.