Suven Pharmaceuticals gets nod from Department of Pharmaceuticals for foreign investment increase post merger
By Aditya Bhagchandani Published on April 22, 2025, 23:32 IST
Suven Pharmaceuticals has received a key regulatory approval from the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, paving the way for an increase in foreign investment in the company following its merger with Cohance Lifesciences.
In an exchange filing dated April 22, 2025, the company confirmed that the approval pertains to the potential increase in aggregate foreign investment beyond 74% in Suven Pharmaceuticals, post the implementation of the Scheme of Amalgamation with Cohance Lifesciences. The clearance comes under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, and marks another milestone in the merger process.
This development follows a series of approvals over the past year, including the shareholders' nod in November 2024 and the sanctioning of the merger by the National Company Law Tribunal (NCLT) in March 2025. The merger's Effective Date will be the opening business hours of the first day of the month following the fulfilment of all final conditions, as laid out in the approved scheme.
The company said it will inform the exchanges about the Effective Date once all conditions are completed.
Suven Pharmaceuticals emphasized its continued commitment to compliance and growth, as the merger is aimed at creating synergies and expanding capabilities in the pharmaceutical space.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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