Natco Pharma Rallies after Dilip Shanghvi, Chairman of Sun Pharma bought 3 lakh shares, Latest Stock Price
Shares of Natco Pharma rose almost 15% on Wednesday, after reports suggested that Dilip Shanghvi, Chairman of Sun Pharma bought 3 lakh shares of the former company. The purchase represents 1% stake in Natco Pharma.
According to reports, the company has also announced its qualified institutional placement (QIP), which opens at a face value of Rs 10/ share on December 7, 2011. QIP is used by listed companies to raise capital from the domestic markets without the need to submit any pre-issue filings to market regulators.
Natco’s shareholding:
• Promoters: 63.11%
• Foreign institutional investors: 6.36% • Domestic institutional investors: 8.86% • Others: 21.67%
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