Penny stock below ₹10 considers Singapore-based firms' proposal for 25% stake acquisition. Details here

A penny stock below ₹10 saw decent gains of over 2 per cent in intraday trade on Monday, September 29, after the company said its board had considered a letter of intent (LOI) from a Singaporean firm expressing interest in acquiring up to 25 per cent equity in the company.

Welcure Drugs and Pharmaceuticals' share price rose over 2 per cent to an intraday high of ₹6.19 in Monday's session, against its previous close of ₹6.06, following the company's announcement that a Singapore-based firm expressed interest in buying some of its stake.

Welcure’s board welcomes Telexcell as a premium investor

In an exchange filing on Saturday, September 27, Welcure said that the board of directors of the company, at its meeting on 27 September 2025, reviewed a letter of intent (LOI) from Telexcell Trade PTE LTD, Singapore. The LOI expresses interest in acquiring up to 25 per cent equity in Welcure at an indicative price of ₹20 per share.

"This is to inform that the Board of Directors of Welcure Drugs & Pharmaceuticals Ltd., at its meeting held on 27th September, 2025, considered and deliberated on the letter of intent (LOI) received from Telexcell Trade PTE LTD, Singapore, expressing interest to acquire up to 25 per cent equity stake in Welcure at an indicative price of ₹20 per share," said the company.

The company further said that while Telexcell initially expressed interest not only in acquiring a significant shareholding but also sought a level of influence in the management and decision-making of the company, the Board has unanimously rejected any such demand.

"Welcure will remain independently managed by its board of directors and professional team. Telexcell, like any other shareholder, may offer views and suggestions in the normal course, but it will not be granted any special rights to interfere with operations or governance. The independence of Welcure’s decision-making is non-negotiable, ensuring continuity of strategy, stability of leadership, and alignment with the long-term interests of all shareholders," said the company.

The company's board specified that Telexcell may pursue its proposed stake acquisition only through secondary transactions that impose no liability on Welcure and no dilution of existing shareholder value.

The board further clarified that Welcure is not presently considering any fund-raising activities, and therefore, avenues such as preferential allotment, QIP, or private placement are out of scope at this stage.

"Welcure welcomes Telexcell’s entry as a strategic foreign shareholder but has clearly defined the terms of participation — as an investor only, without control rights. The board believes this approach balances global investor confidence with uncompromised independence, thereby creating a win-win outcome for the Company, its shareholders, and its stakeholders at large. The company will continue to keep the exchanges informed of any material developments in this matter," said Welcure.

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