Gufic Biosciences Limited announced a private placement of 3,333,000 common shares at a price of INR 300 for the gross proceeds of INR 999,900,000 on August 29, 2023. The transaction will include participation from new investors, Motilal Oswal Financial Services Limited. The transaction has been approved by the shareholders of the company and the transaction is subject to the approval of the members of the company by passing special resolution and such other regulatory/statutory authorities.

The shares will be allotted on preferential basis.