Natco Pharma raises Rs 67.5cr via QIP; stock down 4%

Yesterday Natco Pharma has raised Rs 67.5 crore via QIP. They issued 3 million shares at Rs 225 per share, reports CNBC-TV18.

Sun Pharma promoter Dilip Shanghvi has bought 3.7% stake in Natco Pharma. He acquired 10.45 lakh shares in 2 block deals this week.

In an exclsuive interview to CNBC-TV18 the company said, "Dilip Shanghvi's stake buy in Natco is at a personal level. The stake buy is not a matter of concern. There is no dialogue with Dilip Sanghvi yet."

The QIP issue was oversubscribed. The issue pricing was as per SEBI determined formula. The QIP funds will be used for capex."
 
The share touched an intraday high of Rs 279.45 and an intraday low of Rs 263.30. At 10:16 hrs the share was quoting at Rs 266.65, down Rs 11.95, or 4.29%.
 
It was trading with volumes of 121,336 shares. In the previous trading session, the share closed up 15.10% or Rs 36.55 at Rs 278.60.