Evonile Pharma approves Rs.900-Cr rights issue

Mumbai-based Evonile Pharma (formerly known as Novartis India) would raise INR 900 crore through a rights issue. The transaction involves the issuance of partly paid-up equity shares with a face value of INR 5 each to eligible equity shareholders.Evonile Pharma is focused primarily on commercialising and marketing medicines across major therapeutic areas. The company officially rebranded as Evonile Pharma on October 1, 2026, following the acquisition of its 70.68% controlling stake from Novartis AG by a consortium led by ChrysCapital, WaveRise Investments, and Two Infinity Partners.