Novartis India approves ₹900 crore rights issue
Novartis India (NOVARTIND) said it has approved rights issue of ₹900 crore. The company is valued at about ₹4,253 crore.
What happened
In a filing with the BSE on 4 November 2026 at 07:08 PM, Novartis India (NOVARTIND) said that it has approved rights issue of ₹900 crore.
From the filing: "the meeting of the Right Issue Committee of Evonile Pharma Limited ( formerly known as Novartis India Limited ) (the "Company") held today i.e."
How big is it?
At ₹900 crore, the issue is equal to about 21.2% of the company's market value of ₹4,253 crore.
Company snapshot
Novartis India is a small-cap company, with a market value of about ₹4,253 crore.
The stock last traded at ₹1,722.4, against a 52-week range of ₹672.3–₹2,588.8 (33.5% below the high).
Before this filing the shares had moved −12.3% over the month and +5.3% over three months. Average daily turnover over the last 20 sessions was about ₹7.16 crore.
Promoters held 70.68% at the end of Q2 FY27. Foreign institutions owned 1.22% and domestic institutions 1.50%.
| Quarter | Revenue | Net profit | EPS (₹) |
|---|---|---|---|
| Q2 FY26 | 90 | 24.2 | 9.81 |
| Q3 FY26 | 86 | 16.1 | 6.52 |
| Q4 FY26 | 91 | 25.3 | 10.23 |
| Q1 FY27 | 104 | 32.2 | 13.05 |
| Q2 FY27 | 56 | -77.5 | -31.41 |
What history shows
This is not the company's first fund raising disclosure: BCEIE has 2 earlier filings of this kind on record since May 2026.
After those filings, the stock gained 1.3% on average the next trading day (2 filings with price data).
Market-wide, 1,727 fund raising filings with an impact score of 50 or more saw an average next-day move of +0.3%, with 47% rising.
Past reactions describe what happened before; they are not a forecast.
| Date | Filing | Next day | 5 days |
|---|---|---|---|
| 8 Oct 2026 | The Board of Directors of the Company Evonile Pharma Limited… | +1.3% | — |
| 8 Oct 2026 | The Board of Directors of Evonile Pharma Limited (formally known as… | +1.3% | — |
What to watch
- How the money raised is used and, for equity instruments, the dilution for existing shareholders.
In the news
Recent coverage elsewhere (links open the original publisher):
- Novartis CEO unfazed by high-profile clinical failures, maintains long-term revenue goal
- Novartis CEO keeps faith in Avidity deal despite taking $1.9B hit from del-desiran fail
- Evonile Pharma Q2 FY27: First Results After Novartis Exit
- Novartis CEO says company must stay 'courageous' to pursue breakthroughs
- Novartis raised profit outlook in Q3 2026 earnings despite charge
Source
Automatically written from the exchange filing and BCEIE data. Not investment advice. Check the original filing before acting on it.