Stories
Evonile Pharma Board Approves Raising Up To Rs 900 Crore Via Rights Issue
N
News18•08-10-2026, 21:30
Evonile Pharma Board Approves Raising Up To Rs 900 Crore Via Rights Issue
- •Evonile Pharma Ltd board has approved raising funds of up to Rs 900 crore through a rights issue.
- •The fundraise involves issuing partly paid-up equity shares of face value Rs 5 each to eligible shareholders.
- •The proposal is subject to statutory, regulatory, and shareholder approvals, with a postal ballot notice approved.
- •A rights issue committee led by MD and CEO Vikas Gupta has been formed to finalise the detailed terms of the issue.
- •The board also approved the launch of the company's new corporate website under the name Evonile Pharma Limited.
Key Questions Answered
Evonile Pharma Ltd was formerly known as Novartis India Ltd before adopting its new corporate identity and website.
Evonile Pharma's board of directors approved raising funds of up to Rs 900 crore through the issuance of partly paid-up equity shares on a rights basis to eligible equity shareholders.
The board constituted a rights issue committee comprising Managing Director and Chief Executive Officer Vikas Gupta, who has been authorised to determine details like the issue price, rights entitlement ratio, and record date.
