How will Gujarat Themis fund the MicroBiopharm Japan acquisition?

The board approved a ₹1,000 cr QIP and a separate preferential issue to non-promoters. The acquisition cost is ¥21.5 billion, or about ₹1,300 cr. The QIP covers most of the price.

How large is this raise relative to the company?

The ₹1,000 cr QIP represents roughly 22% of Gujarat Themis Biosyn's current ₹4,505 cr market capitalisation. This is a highly material action for a small-cap company.

What is the preferential issue, and who is it for?

Alongside the QIP, the board approved a preferential issue to non-promoters. The terms, including price and number of shares, are yet to be finalised.

What are the next procedural steps?

The QIP requires shareholder and regulatory approvals. It can be conducted in one or more tranches. The company did not specify pricing or share issuance numbers yet.

Pharmaceuticals · Small cap

Gujarat Themis will dilute a fifth of itself for a ¥21.5bn Japan deal

A ₹1,000 cr QIP and a separate preferential issue will fund the MicroBiopharm Japan acquisition.

— 3 earlier stories on Gujarat Themis Biosyn Ltd. →

GUJTHEM By Tipsheet Editorial 6 Jun 2026 · 7:19 PM IST Verify on BSE · NSE

Mkt cap₹4,488 cr

P/E96.13×

ROE19.64%

Debt / eq.0.12

Div yld0.16%

22% of market cap The size of the QIP relative to Gujarat Themis's ₹4,505 cr valuation.

What's new

Board approved a ₹1,000 cr QIP and a separate preferential issue to non-promoters.
The money funds the ₹21.5 billion (about ₹1,300 cr) buy of MicroBiopharm Japan.
The QIP alone equals 22% of the company's current ₹4,505 cr market cap.

Why this matters

This is a small-cap company using its entire equity market to buy a Japanese CDMO. The QIP will dilute existing shareholders by a fifth, and the preferential issue will add more. The total acquisition cost is about ₹1,300 crore, so the QIP covers most of the price.

What we're watching

Final pricing and terms for the QIP and preferential issue.
Whether shareholder and regulatory approvals are secured.
Post-issue shareholding and how much promoter stake is diluted.

The full read

Gujarat Themis Biosyn is raising ₹1,000 crore. That is 22% of its ₹4,505 crore market cap. The money funds its ¥21.5 billion (about ₹1,300 crore) acquisition of Japanese CDMO MicroBiopharm Japan. The board also approved a preferential issue to non-promoters, with terms undecided. For a small-cap, this is a huge equity cheque. The acquisition cost is ₹1,300 crore. The QIP covers most of the bill. Existing shareholders face severe dilution. Pricing and share count for both instruments remain open. Shareholder and regulatory approvals are still needed. Hardly a footnote.

Questions answered

How will Gujarat Themis fund the MicroBiopharm Japan acquisition?: The board approved a ₹1,000 cr QIP and a separate preferential issue to non-promoters. The acquisition cost is ¥21.5 billion, or about ₹1,300 cr. The QIP covers most of the price.
How large is this raise relative to the company?: The ₹1,000 cr QIP represents roughly 22% of Gujarat Themis Biosyn's current ₹4,505 cr market capitalisation. This is a highly material action for a small-cap company.
What is the preferential issue, and who is it for?: Alongside the QIP, the board approved a preferential issue to non-promoters. The terms, including price and number of shares, are yet to be finalised.
What are the next procedural steps?: The QIP requires shareholder and regulatory approvals. It can be conducted in one or more tranches. The company did not specify pricing or share issuance numbers yet.

Mentioned: MicroBiopharm Japan · ¥21.5 billion acquisition · ₹1,000 cr QIP

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Story so far

All notes on GUJTHEM →

6 Jun 2026 · 7:19 PM IST Gujarat Themis will dilute a fifth of itself for a ¥21.5bn Japan deal
3d ago Gujarat Themis Biosyn to raise equity for ¥21.5 bn Japan deal
12d ago Gujarat Themis Biosyn plans a cash raise. It hasn't named the price or the buyer.
15d ago Gujarat Themis Biosyn bets ₹1,300 cr to buy Japan's MicroBiopharm