Natco Pharma Ltd approves QIP at Rs. 2130.55

In respect of the QIP, the Committee of Directors (the "Committee") of Natco Pharma Ltd has at its meeting held on September 15, 2015, has approved the Issue Price of Rs. 2,130.55, after giving discount of upto 5% i.e Rs. 112.13 per Equity Share, to the Floor Price of Rs. 2,242.68 per Equity Share as per the SEBI ICDR Regulations and shareholders' approval, for the Equity Shares to be issued and allotted to eligible Qualified Institutional Buyers in the QIP and approved the issue of Confirmation Allocation Note for the allocation of 1,600,000 Equity Shares to the Qualified Institutional Buyers amounting to approximately Rs. 3,408.88 million.

The committee also approved the Placement Document dated September 15, 2015.

Shares of NATCO PHARMA LTD. was last trading in BSE at Rs.2223.15 as compared to the previous close of Rs. 2226.75. The total number of shares traded during the day was 2210 in over 408 trades.

The stock hit an intraday high of Rs. 2245.85 and intraday low of 2209.75. The net turnover during the day was Rs. 4923090.

Source : Equity Bulls

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