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Hyderabad-based drug maker Natco Pharma Limited proposes to issue up to 2.4 million equity shares of Rs 10 each on preferential allotment basis to CX Securities Limited, registered foreign institutional investor (FII), at a price of Rs 638.40 aggregating to Rs 153.22 crore.
The company stated in a press release that its board, at its meeting held here on Saturday, had also proposed to increase the limit of shareholding by a non-resident Indian or a person of Indian origin and registered FIIs upto 49% of the paid up capital.
Natco would be holding an extraordinary general meeting on November 14, this year to put the two proposals for the consideration of its shareholders.
