Berhyanda gets DoP nod to acquire up to 76.1 percent stake in Suven Pharma
Hyderabad: Through a recent BSE filing, Suven Pharma has informed that the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, has granted its approval for acquisition of up to 76.1% shareholding in the Company by M/s. Berhyanda Limited, Cyprus (“Acquirer”) by way of transfer of 12,75,37,043 equity shares aggregating to 50.1% of shareholding in the Company from promoters of the Company (M/s 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.
The Acquirer 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.
Read also: Foreign investment of up to Rs 9589 crore in Suven Pharma approved by Cabinet
Medical Dialogues team had earlier reported that Anti-trust regulator Competition Commission of India (CCI) had approved the acquisition of up to 76.10% of the voting share capital of Suven Pharmaceuticals Limited by Berhyanda Limited.
Read also: CCI approves acquisition of up to 76.10 percent of voting share capital of Suven Pharma by Berhyanda
