News ArticleEvonile Pharma Receives BSE In-Principle Nod for ₹9,000 Million Rights Issue; Board Meeting Set for November 4, 2026
Company to approve Letter of Offer and finalize issue parameters including price and entitlement ratio in upcoming meetings
Evonile Pharma Limited (formerly Novartis India Limited) has received in-principle approval from BSE for a proposed ₹9,000 million rights issue. The company will hold a board meeting on November 4, 2026, to approve the Letter of Offer and a Rights Issue Committee meeting to finalize issue details including price and entitlement ratio.
Evonile Pharma Limited
Preferential Issue
Evonile Pharma Limited has obtained in-principle approval from BSE for its proposed rights issue of partly paid equity shares aggregating up to ₹9,000 million. The company plans to hold key board meetings on November 4, 2026, to approve the Letter of Offer and determine issue specifics.
The rights issue will offer partly paid equity shares to eligible shareholders to raise funds up to ₹9,000 million (Rupees Nine Thousand Million only).
Approval from BSE was granted on October 30, 2026, marking a significant regulatory step forward for the fundraising plan.
On November 4, 2026, the Board of Directors will consider and approve the Letter of Offer pertaining to the rights issue.
Subsequently, a Rights Issue Committee meeting is scheduled for the same day to decide on critical parameters such as issue price, entitlement ratio, record date, and fractional entitlements.
These meetings are part of the formal process to ensure transparent and compliant execution of the rights issue.
Highlights
- In-principle approval for rights issue received from BSE on October 30, 2026.
- Rights issue amount set at ₹9,000 million through partly paid equity shares.
- Board meeting scheduled on November 4, 2026, to approve Letter of Offer.
- Rights Issue Committee to finalize issue price and entitlement ratio on November 4, 2026.
- Rights issue targets existing eligible equity shareholders of Evonile Pharma.
Key Data Snapshot
What happened
- Evonile Pharma received in-principle approval from BSE on October 30, 2026, for a proposed rights issue.
- The rights issue aims to raise up to ₹9,000 million by issuing partly paid equity shares.
- Board and Rights Issue Committee meetings are both scheduled for November 4, 2026, to approve the Letter of Offer and finalize issue details.
Key details
- Rights Issue Committee will determine issue price, entitlement ratio, record date, and fractional entitlements.
- The offering targets eligible existing equity shareholders.
- Approval process aligns with SEBI LODR Regulations, 2015.
Regulatory and governance context
- Disclosure made under Regulation 29(1)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Company secretary Chandni Maru signed the filing on November 1, 2026.
Highlights
- In-principle approval for rights issue received from BSE on October 30, 2026.
- Rights issue amount set at ₹9,000 million through partly paid equity shares.
- Board meeting scheduled on November 4, 2026, to approve Letter of Offer.
- Rights Issue Committee to finalize issue price and entitlement ratio on November 4, 2026.
- Rights issue targets existing eligible equity shareholders of Evonile Pharma.
Disclosures
- Regulation 29(1)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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