Natco Pharma will be raising Rs 153 crore from CX Securities, a foreign institutional investor. The board of directors of the company at its meeting held on October 19, 2013 has approved to issue 24 lakh equity shares of Rs 10 each to CX Securities on a preferential basis. The shares will be issued at a price of Rs 638.40 apiece, aggregating to Rs 153 crore, subject to the necessary approvals. The proceeds of the issue will be used for general corporate purposes.
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