Bacil Pharma's board has approved a Rights Issue to raise up to 50 Cr, aiming to strengthen its financial position and support business growth.

To facilitate this fundraise, the board also approved increasing the company's Authorized Share Capital by 45 Cr, bringing the total to 65 Cr, pending shareholder approval.

Key intermediaries like the Registrar, Banker, and a Monitoring Agency for the Rights Issue have been appointed, and a dedicated committee formed.

Separately, two independent directors, Mr. Dinesh Chander Notiyal and Ms. Avani Savjibhai Godhaniya, resigned due to other commitments.