NONovartis India500672Rights issue announcement

BSE in-principle approval received for proposed rights issue of up to ₹9,000.00 million

BSE in-principle approval (October 30, 2026) received for the proposed rights issue of partly paid equity shares, up to ₹9,000.00 million.

By ScoutQuest · Sun 1 Nov 2026, 2:25 PM IST · 2 min read

Rights Issue Size Ceiling

up to ₹9,000.00 million

BSE In-Principle Approval Date

October 30, 2026

Board Meeting Date (Letter of Offer)

November 04, 2026

What the company said

The company, Evonile Pharma Limited (formerly Novartis India Limited), has received the in-principle approval of BSE Limited on October 30, 2026 for its proposed rights issue. This follows the Board's earlier approval intimated on October 08, 2026.

The rights issue is of partly paid up equity shares to eligible equity shareholders, for an aggregate amount not exceeding ₹9,000.00 million (Rupees Nine Thousand Million only).

What happens next

• A meeting of the Board of Directors is scheduled for November 04, 2026 to consider and approve the Letter of Offer for the rights issue.
• A meeting of the Rights Issue Committee is also proposed on November 04, 2026 to consider, decide and discuss matters connected with the rights issue, including the issue price, entitlement ratio, record date and fractional entitlement.

What a rights issue means

In a rights issue, existing shareholders are offered the chance to buy additional shares of the company, usually in proportion to what they already hold. The entitlement ratio decides how many new shares a holder can apply for; the issue price and record date decide the cost and who qualifies.

Partly paid shares

Here the shares are partly paid up, which means an investor pays for them in instalments rather than the full amount at one time. The update does not set out the instalment schedule or amounts; those terms are yet to be decided.

What is decided and what is not

• The stock exchange approval for the proposed issue has been received.
• The size ceiling is fixed at not more than ₹9,000.00 million.
• The issue price, entitlement ratio and record date are still to be determined by the committee on November 04, 2026.

For a retail shareholder, the key details to watch are the price at which the rights shares are offered, the ratio of new shares to shares held, and the record date. These will determine how much money a shareholder would need to put in to take up the entitlement in full.

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