In otherwise quiet pharma capital markets, leading pharmaceutical company, Natco Pharma has raised Rs 915 crores (approximately $142.5 million) through the issue of securities to qualified institutional investors, as reported by MoneyControl and The Economic Times. The board of directors earlier at their meeting held on November 2, 2017 had approved to raise up to Rs 1,500 crore through various modes of capital-raising including QIP, GDRs, FCCBs etc. thereafter followed by an approval of the issue of one crore equity shares of face value of Rs. 2 each to eligible QIBs at the issue price of Rs. 915 per equity share, including a premium, aggregating to Rs. 915 crores. The placement document was filed with the Indian stock exchanges on December 14, 2017.
Khaitan & Co advised and acted as the Indian legal advisors to
Cyril Amarchand Mangaldas acted as the Indian legal counsel to
Sidley Austin acted and represented as the international legal counsel to the global coordinators and the book running lead managers and was led by
Natco Pharma is a leading domestic player in oncology and had recently forayed into cardiology and diabetology in 2017.
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