Natco Pharma Completes Investments In OMRV Hospitals

Natco Pharma on Tuesday after market hours said that it has completed the investment of Rs5cr in OMRV Hospitals in the form of 5 lakhs, 0.05% Compulsory Convertible Cumulative Preference Shares under the private placement.

The company will be holding 12.81% of the share on a fully diluted basis of the share capital of OMRV Hospitals, the company said.

“With reference to the above stated subject, further to intimation of outcome of our Board Meeting held on August 9, 2019 and disclosure dated August 23, 2019, we bring to your kind notice that the Company had completed the investment of Rs5cr only in OMRV Hospitals Private Limited in the form of 5 lakh, 0.05% Compulsory Convertible Cumulative Preference Shares (CCCPS) under Private Placement,” the company said in the BSE filing.

Natco Pharma Ltd ended at Rs580.40, down by Rs8.05 or 1.37% from its previous closing of Rs588.45 on the BSE.

The scrip opened at Rs586 and touched a high and low of Rs591 and Rs579.50 respectively.-India Info line