Evonile Pharma Approves ₹900 Crore Rights Issue

Evonile Pharma Limited (formerly Novartis India Limited) announced that its Board of Directors has approved a Rights Issue to raise funds up to ₹9,000 million (₹900 Crore). The funds will be raised through the issuance and allotment of partly paid-up equity shares. A Rights Issue Committee has been constituted to finalize the terms, including issue size, price, and record date. The company also approved a postal ballot notice for shareholders and launched its new corporate website, www.evonilepharma.com.