Drug firm Natco Pharma has raised Rs 340.88 crore by issuing shares to qualified institutional buyers.
The company issued 16 lakh shares at a price of Rs 2,130.55 apiece.
Natco Pharma's Committee of Directors have approved the "issue of confirmation allocation note for the allocation of 1,600,000 equity shares to the Qualified Institutional Buyers amounting to approximately Rs 3,408.88 million (Rs 340.88 crore)," the company said in a BSE filing.
The issue price was at a five per cent discount to the floor price of Rs 2,242.68 per share. The discount translates to Rs Rs 112.13 apiece.
Shares of the company closed flat at Rs 2,225 on the BSE today.
