Board approves rights issue of partly paid-up equity shares up to ₹9,000 million

Board of Evonile Pharma Limited (formerly Novartis India Limited) met on October 08, 2026.

Thu 8 Oct 2026

Fundraising Mode

rights issue of partly paid-up equity shares

Aggregate Issue Size

not exceeding ₹9,000 million (Rupees Nine Thousand Million)

Face Value per Share

₹5/- each

Board Meeting Date

October 08, 2026

Fundraise approved by the Board

The Board of Directors of Evonile Pharma Limited, formerly known as Novartis India Limited, met on October 08, 2026 and approved raising of funds by issuing partly paid-up equity shares on a rights basis.

Details of the approved issue

• Type of securities: equity shares, partly paid-up, face value ₹5/- each
• Amount: aggregate not exceeding ₹9,000 million (Rupees Nine Thousand Million only)
• Mode: on a rights basis to the eligible equity shareholders of the Company as on the record date, to be determined and notified subsequently
• The issue is subject to receipt of applicable statutory and regulatory approvals

The update places the decision on record under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the required details set out in Annexure A.

What a rights issue means

A rights issue gives existing shareholders the option to subscribe to new shares, usually in proportion to the shares they already hold. Partly paid-up means the shareholder pays only part of the issue price when the shares are allotted, and the balance is paid later when the Company makes a call.

The issue price and the rights entitlement ratio are to be decided by the Board or the Rights Issue Committee at a later date.

Rights Issue Committee constituted

The Board approved setting up a Rights Issue Committee of

• Mr. Vikas Gupta – Managing Director and Chief Executive Officer
• Dr. Jagriti Gupta – Non Executive Director
• Mr. Shashank Sinha – Independent Director

The Committee has been given the authority to determine and finalise the detailed terms and conditions of the rights issue, including the issue size, rights entitlement ratio, issue price, record date, timing of the issue, allotment of shares and appointment of intermediaries.

Postal Ballot

The Board approved the notice of a Postal Ballot for seeking the approval of the shareholders of the Company.

Other decisions

• Adoption and launch of the new corporate website of the Company under the name Evonile Pharma Limited, at www.evonilepharma.com
• The information in this announcement will also be available on the new website

How to read this

The announcement sets out an approval to raise funds through a rights issue, and the securities to be issued are partly paid-up equity shares of face value ₹5/- each. The commercial terms of the issue are to be finalised by the Board or the Rights Issue Committee. The postal ballot notice indicates that shareholders' approval is being sought for the proposal.

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