Natco Pharma has concludes Qualified Institutional Placement (QIP) issue by completing the allocation of 3 million shares of Rs 10 face value at Rs 225 to seven institutional investors. Pursuant to this, the company has been able to raise Rs 67.50 crore and it plans to use the proceeds to fund its expansion plans. The promoter stake in the company has come down to around 58% from 61% earlier.
Further, Kotak India Venture Fund-I has acquired a 3.4% stake, around 1.05 million shares through the issue by investing Rs 23.7 crore. Also, Orange Mauritius Investments which already holds 2.72% stake in the company, has raised its stake close to 6% post QIP.
Natco Pharma manufactures a comprehensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets. Company’s product range includes Diltiazem, Omeprazole, Lansoprazole, Isosorbides, Sumatriptan, succinate, Ondansetron, Sertraline, Granisetron, Paroxetine , Newer Quinolones and fourth genaration Cephalosorins.
Company Name | CMP |
---|---|
Sun Pharma Inds. | 1479.50 |
Dr. Reddys Lab | 5817.85 |
Cipla | 1510.70 |
Zydus Lifesciences | 1054.20 |
Lupin | 1622.85 |
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