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Natco Pharma raises Rs 915 crore via QIP

Natco Pharma raises Rs 915 crore via QIP

New Delhi: Natco Pharma has raised Rs 915 crore through issue of securities to qualified institutional investors (QIP), according to a regulatory filing.

During its meeting, the company’s committee of directors decided to allocate 1 crore shares at issue price of Rs 915 apiece, Natco Pharma said.

The shares were allotted to eligible qualified institutional buyers pursuant to the QIP amounting to an issue size of Rs 915 crore, it added.

Specific details about utilization of the proceeds were not disclosed.

Shares of the company surged 6.08 percent to close at Rs 1,020.85 apiece on the BSE on Thursday.

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Ruby Khatun

Ruby Khatun

Ruby Khatun joined Medical Dialogue as Reporter in 2016. She covers all the business news in different categories. She also covers all the updates in Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a post graduate from Jamia Hamdard. She can be contacted at Contact no. 011-43720751

Source: PTI
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