Evonile Pharma Approves ₹9,000 Million Rights Issue

Evonile Pharma Limited (formerly Novartis India Limited) announced its Board of Directors has approved a Rights Issue to raise 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 and conditions of the issue. The company also approved the adoption of its new corporate website, www.evonilepharma.com, and a postal ballot notice for shareholder approval.