Board approves rights issue of up to ₹9,000 million, constitutes Rights Issue Committee

Board meeting outcome dated October 08, 2026.

Thu 8 Oct 2026

Rights Issue Size

aggregate amount not exceeding ₹9,000 million

Face Value per Share

₹5/- each

Instrument Type

partly paid-up equity shares

Board meeting outcome, October 08, 2026

The Board of Evonile Pharma Limited (formerly Novartis India Limited) met on October 08, 2026 and approved four matters.

Fund raising by way of rights issue

• Approved raising of funds through the issuance and allotment of partly paid-up equity shares of the Company having face value of ₹5/- each, for an aggregate amount not exceeding ₹9,000 million (Rupees Nine Thousand Million only)
• The issue is on a rights basis, to the eligible equity shareholders of the Company as on a record date to be determined and notified subsequently
• The fund raise is subject to receipt of applicable statutory and regulatory approvals
• The detailed terms and conditions are to be decided by the Board or the Rights Issue Committee, including the issue size, rights entitlement ratio, issue price, record date, timing of the issue, allotment of shares and appointment of intermediaries

Rights Issue Committee constituted

• The Committee comprises Mr. Vikas Gupta - Managing Director and Chief Executive Officer, Dr. Jagriti Gupta - Non Executive Director and Mr. Shashank Sinha - Independent Director
• Authority has been delegated to the Committee to determine and finalize the detailed terms and conditions of the rights issue and all other related matters

Postal Ballot Notice

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

New corporate website

• The Board approved the adoption and launch of the new corporate website of the Company under the name of Evonile Pharma Limited, at www.evonilepharma.com
• The information in this update is also available on the new website

What a rights issue means for a shareholder

• In a rights issue, a company offers new shares to its existing shareholders, usually in proportion to the shares they already hold.
• Here the shares offered are partly paid-up, which means the shares carry a face value of ₹5/- each and the payment structure is as per the terms decided for the issue.
• The entitlement ratio, price and record date will be finalised by the Rights Issue Committee at a later date.

Points a retail investor may watch for

• The rights entitlement ratio, which decides how many new shares an eligible shareholder can apply for
• The issue price and the record date, once notified
• The approvals required before the issue can proceed

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.