Suven Life Sciences (Suven), a leading pharmaceutical company has concluded its Rs 200 crore fund raising exercise through the Qualified Institutions Placement (QIP) process. The transaction saw participation by some highly reputed investors in India. The Company accordingly will issue 1,04,53,690 equity shares of face value of Rs 1 per equity share at a price of Rs 191.32 including a premium of Rs 190.32 per share.
Post issue the promoters holding will be in excess of 59% as against 64.76% on September 30, 2014. Anand Rathi Advisors acted as the Sole Global Co-ordinator and Book Running Lead Manager for this QIP.
Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets.
