Evonile Pharma fixes Rs 860 rights issue worth Rs 884.754 crore

Evonile Pharma Limited has fixed a Rs 860 partly paid rights issue of 10,287,832 equity shares, with a maximum issue size of Rs 884.754 crore, for holders eligible on November 11, 2026 at five shares for every 12 held. The issue opens on November 19 and closes on December 3, 2026.

What are Evonile Pharma’s rights issue terms?

Evonile Pharma is offering 10,287,832 partly paid equity shares through a rights issue at Rs 860 per share. The price comprises Rs 5 of face value and Rs 855 of premium per share, and the maximum issue size is Rs 884.754 crore. The Rights Issue Committee fixed these terms at its November 4, 2026 meeting, under authority granted by the board on October 8, 2026.

Evonile Pharma has set the entitlement ratio at five rights equity shares for every 12 fully paid equity shares held, or 5:12, on the November 11, 2026 record date. The filing identifies the International Securities Identification Number, or ISIN, for rights entitlements as INE234A20017. The entitlement is based on fully paid shares held on the record date.

The Rs 860 price applies to shares that will be partly paid at application rather than fully paid at allotment. Each rights share will ultimately carry Rs 5 of face value and Rs 855 of premium after the application payment and the first and final call are paid. Evonile Pharma described the proposed securities as partly paid equity shares in its November 4 filing.

The November 4 terms set a lower maximum issue size than the Rs 900 crore aggregate amount approved by the board on October 8, 2026. The difference reflects the committee’s determination of the final share count and price at 10,287,832 shares and Rs 860 per share. The filing does not disclose the intended use of the proceeds.

When can Evonile Pharma shareholders apply or renounce rights?

Evonile Pharma’s rights issue will open on Thursday, November 19, 2026 and close on Thursday, December 3, 2026. Rights entitlements are scheduled to be credited by Thursday, November 12, 2026, following the Wednesday, November 11 record date for identifying eligible shareholders.

Shareholders have until Friday, November 27, 2026 for on-market renunciation of rights entitlements. That deadline is six calendar days before the December 3 closing date. The filing lists Friday, December 4, 2026 as the date, on or about, for finalising the basis of allotment and making allotments.

Evonile Pharma expects rights equity shares to be credited on or about Monday, December 7, 2026, followed by listing on or about Wednesday, December 9, 2026. The company marks both events as approximate in its schedule. In contrast, November 19 for opening and December 3 for closing are stated as fixed issue dates.

How will payment for Evonile Pharma’s Rs 860 rights shares work?

Evonile Pharma requires Rs 645 per rights share on application and Rs 215 per rights share on the first and final call. The application amount includes Rs 3.75 of face value and Rs 641.25 of premium, while the call includes Rs 1.25 of face value and Rs 213.75 of premium.

The Rs 645 application amount is 75% of the Rs 860 issue price, while the Rs 215 first and final call represents the remaining 25%, based on the disclosed payment terms. The two payments together complete the Rs 5 face value and Rs 855 premium attached to each rights share.

Evonile Pharma has not provided a date for the first and final call in the November 4 filing. Its announced timetable runs from the November 11 record date through the expected December 9 listing date, but does not specify when the Rs 215 per-share call will be made. The payment schedule only identifies the amount due at that later stage.

How would Evonile Pharma’s share count change after the issue?

Evonile Pharma reports 24,690,797 outstanding equity shares before the rights issue and 34,978,629 after it, assuming full subscription and allotment of rights entitlements. The increase of 10,287,832 shares matches the number of partly paid equity shares proposed under the Rs 884.754 crore issue.

On the disclosed counts, full subscription would increase outstanding shares by about 41.67% from the pre-issue base of 24,690,797 shares. This comparison is conditional because the stated post-issue count assumes full subscription and allotment. It is not the outstanding share count as of the committee meeting on November 4, 2026.

Evonile Pharma says fractional entitlements will be ignored by rounding down. The filing cites a Securities and Exchange Board of India, or SEBI, master circular dated February 9, 2026, and says detailed treatment of fractional entitlements will be disclosed in the issue documents.

The 5:12 ratio applies to fully paid equity shares held on November 11, 2026 rather than to shares acquired after the issue opens on November 19, 2026. Evonile Pharma has not provided allocation illustrations for holdings that do not divide evenly into groups of 12 shares. Such fractions are subject to the stated rounding-down approach.

Conclusion

Evonile Pharma has turned its October 8, 2026 approval for a rights issue of up to Rs 900 crore into defined terms: Rs 860 per partly paid share, a 5:12 entitlement ratio and a maximum issue size of Rs 884.754 crore. If all 10,287,832 shares are subscribed and allotted, outstanding equity shares would rise from 24,690,797 to 34,978,629.

The next disclosed milestones are the November 11, 2026 record date, the November 19 opening and the December 3 closing. Investors should also watch for the issue documents’ detailed approach to fractional entitlements and for the first and final call of Rs 215 per rights share, for which this filing does not state a payment date.