Natco Pharma Ltd. announced board‑approved rights issue of ₹1,279 crore, issuing 1.7 crore equity shares at ₹750 each—an 11% discount to the ₹843.95 market price.
The entitlement ratio of 2 rights for every 21 shares means only 9.52% of the existing base will be able to subscribe, making the offering highly targeted.
The issue will open on October 12, close on October 22, with on‑market renunciation from October 12‑16. The record date set for October 1 requires shareholders to hold shares as of September 30.
Market reaction: shares slipped 0.2% to ₹843.95, still 5% down year‑to‑date, reflecting cautious investor sentiment amid sector volatility.
Analysts note the discount could spur uptake, but liquidity concerns may limit full subscription. Natco’s debt profile remains unchanged, with a target of ₹2,500 crore in total debt by end‑2027.
Looking ahead, the company will report Q3 earnings on November 15, and the board will evaluate the capital structure post‑issue.