Suven Pharmaceuticals obtained an intimation, that the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, has granted its acclaim for acquisition of up to 76.1% shareholding in the Company via M/s. Berhyanda Ltd, Cyprus (Acquirer) by means of way of transfer of 12,75,37,043 fairness stocks aggregating to 50.1% of shareholding within the Company from promoters of the Company and acquisition of up to 6,sixty one,86,889 fairness stocks aggregating to 26% of shareholding inside the Company from public shareholders through mandatory open offer. The combination foreign funding, together with funding from different overseas buyers can be as much as 90.1% shareholding in the Company.

The Acquirer will hold 76.1% of the paid-up percentage capital of the Company and other overseas traders together with FPIs will keep up to fourteen% of paid-up share capital of the Company subject to compliance with the regulations beneath numerous legal guidelines and the terms and situations as distinctive within the letter of approval.