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The proceeds from the new issue will be used to establish a new facility in Vallam-Vadagal to manufacture high tensile fasteners and hex bolts

The company also stated that the cash will allow them to evaluate the best financing structure for growth ambitions.

The allotment of equity shares in the offer increased the company's paid-up equity share capital to ₹160 Crore.

Natco Pharma disclosed that its subsidiary will invest USD 8 million in eGenesis, acquiring a total of 40,629,761 shares.

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Naidu stated that efforts are being made to ensure that aircraft production begins in the country within the next five years.

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