The Cabinet Committee on Economic Affairs (CCEA) has approved the FDI proposal for foreign investment of up to Rs 9589 crore in Suven Pharmaceuticals by M/s Berhyanda, Cyprus. The approval is for acquisition of up to 76.1% equity shares of Suven Pharmaceuticals by M/s Berhyanda, Cyprus, by way of transfer of shares from existing promoter shareholders and public shareholders through mandatory Open Offer. The aggregate foreign investment may increase up to 90.1% in Suven Pharmaceuticals.
The proposal has been evaluated by SEBI, RBI, CCI and other relevant agencies. The approval has been granted after examination of the proposal by Departments concerned, RBI and SEBI and is subject to the fulfillment of all rules and regulations as applicable in this regard.
Suven Pharmaceuticals is a bio-pharmaceutical company, incorporated with the object of being engaged in the business of development and manufacturing of New Chemical Entity (NCE) based Intermediates, Active Pharmaceutical Ingredients (API), Speciality Chemicals and formulated drugs under contract research and manufacturing services for global pharmaceutical, biotechnology and chemical companies.
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