Board approves Rights Issue to raise up to Rs 900 crore

Corporate Actions View source PDF Explain this filing

NOVARTIND · price

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Price reactionminutes from the announcement price · days from the prior close

+2.5%Reaction day

₹2009.00

prior close

₹1997.60

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+2.3% vs market

Pharmaceuticals peers, median of 168sector-0.2%+2.7% vs sector

On the reaction day the stock moved 2.3 pts more than Nifty Microcap 250 and 2.7 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.9

10m

-1.7

15m

-1.8

30m

-1.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+2.5+0.3+2.3-0.2+2.7

Next day

-0.4+1.1-1.6-0.2-0.2

-0.5+1.3-1.8-0.4-0.1

-1.4+2.0-3.5-0.7-0.7

-3.4+0.3-3.8-1.1-2.3

-6.4+1.1-7.4-0.8-5.6

-12.2-3.2-9.0-4.1-8.2

15d

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UpDownMarket · Nifty Microcap 250Sector · Pharmaceuticals peers, median of 168Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Evonile Pharma (formerly Novartis India) board approved a Rights Issue of partly paid-up equity shares (face value Rs 5) to raise up to Rs 9,000 million (Rs 900 crore). Issue price, entitlement ratio and record date will be decided later by a newly formed Rights Issue Committee. Shareholder approval will be sought via postal ballot.

Likely market impact

Eligible shareholders can participate in the Rights Issue; potential dilution. Terms like price and ratio are still pending.