Express Pharma

Natco Pharma raises Rs 915 cr via QIP

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The company’s committee of directors decided to allocate 1 crore shares

Natco Pharma has raised Rs 915 crore through issue of securities to qualified institutional investors, according to a regulatory filing. During a recently held 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 utilisation of the proceeds were not disclosed.

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