| Issue Size | ₹900 CrRights Issue |
|---|---|
| Market Cap | ₹4,197.93 CrSmall Cap |
| Promoter Holding | 70.68%No pledge |
| 1Yr Return | 94.78%Stock Performance |
| Deal value | ₹900 Cr |
| Share of market cap | 21.4% |
Key highlights
- Rights issue size confirmed at an aggregate amount of up to ₹9,000 million (₹900 crore)
- Fundraise represents 21.4% of the company's current market capitalization of ₹4,197.93 crore
- Board approved the Letter of Offer to be filed with BSE and SEBI for shareholder dispatch
- Rights Issue Committee authorized to finalize the issue price, record date, and entitlement ratio
- Follows management guidance to double revenue over four to five years post-ChrysCapital takeover
Scaling Capital for Business Transformation
Evonile Pharma is executing a significant capital raise of ₹900 crore through the issuance of partly paid-up equity shares. This fundraise is substantial relative to the company's size, accounting for approximately 21.4% of its ₹4,197.93 crore market capitalization. The move comes as the pharmaceutical firm undergoes a structural shift following its rebranding from Novartis India Limited.
The board has now formalized the payment schedule and utilization plan for these proceeds, which land on a balance sheet currently seeing a TTM net loss of ₹3.99 crore and a 37.95% year-on-year decline in quarterly revenue as of September 2026.
Terms and Committee Authorization
- Rights Issue Committee will decide the specific issue price and entitlement ratio for shareholders
- The record date for determining eligible equity shareholders is yet to be announced
- Issuance will consist of 'Rights Equity Shares' issued as partly paid-up instruments
- Letter of Offer to be officially filed with BSE Limited and the Securities and Exchange Board of India
- Proceeds to be utilized for corporate expansion and strategic initiatives as outlined in the filing
Operational Context and Future Outlook
The capital infusion follows the takeover by ChrysCapital and subsequent management guidance aiming to double revenue over the next four to five years. This strategic roadmap is being implemented despite recent financial headwinds, including an operating profit margin of -56.77% in the most recent quarter. The company maintains a strong promoter holding of 70.68%, providing a stable ownership structure as it seeks to pivot its business model.
The current fundraise follows an in-principle approval from the BSE received on October 30, 2026, marking the final regulatory stages before the issue opens to the public.
| Date | Announcement | Amount |
|---|---|---|
| 08 Oct 2026 | Rights issue of partly paid-up equity sharesSource: medicaldialogues.in | ₹900.00 Cr |
What to watch next
- Announcement of the record date and final issue price by the Rights Issue Committee
- Filing of the Letter of Offer with SEBI and subsequent dispatch to eligible shareholders
- Quarterly financial results for the period ending December 31, 2026
| Share price | ₹1700.2 |
|---|---|
| Market capitalisation | ₹4,197.93 Cr |
| Revenue (annual) | ₹354.33 Cr |
| Net profit (annual) | ₹93.18 Cr |
| Revenue (latest quarter) | ₹56.05 Cr-46.01% vs previous quarter |
| Net profit (latest quarter) | -₹77.54 Cr-340.73% vs previous quarter |
| P/E (TTM) | -1052.11×Sector 41.34× |
| Promoter holding | 70.68%0.00% QoQ |
| FII holding | 1.21%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Evonile Pharma Limited announcing the board approval for the rights issue payment schedule and Letter of Offer. Market figures from a third-party data provider.
