Berhyanda gets nod for acquisition of up to 76.1% stake in Suven Pharmaceuticals

The aggregate foreign investment, including investment from other foreign investors may be up to 90.1% shareholding in the company

The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, has granted its approval for acquisition of up to 76.1% shareholding in Suven Pharmaceuticals Limited by Berhyanda Limited, Cyprus by way of transfer of 12,75,37,043 equity shares aggregating to 50.1% of shareholding in the company from promoters Jasti Property and Equity Holdings Private Limited and acquisition of up to 6,61,86,889 equity shares aggregating to 26% of shareholding in the company from public shareholders through mandatory open offer.

The aggregate foreign investment, including investment from other foreign investors may be up to 90.1% shareholding in the company.

Berhyanda will hold 76.1% of the paid-up share capital of the company and other foreign investors including FPIs will hold up to 14% of paid-up share capital of the Company subject to compliance with the regulations under various laws and the terms and conditions as specified in the letter of approval.