Cabinet approves foreign investment of up to Rs.9589 crore in M/s Suven Pharmaceuticals Limited
The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Narendra Modi today approved the FDI proposal for foreign investment of up to Rs.9589 crore in M/s Suven Pharmaceuticals Limited by M/s Berhyanda Limited, Cyprus. The approval is for acquisition of up to 76.1% equity shares of M/s Suven Pharmaceuticals Limited, a public limited Indian pharmaceutical company listed on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited, by M/s Berhyanda Limited, Cyprus, by way of transfer of shares of from existing promoter shareholders and public shareholders through mandatory Open Offer. The aggregate foreign investment may increase up to 90.1% in M/s Suven Pharmaceuticals Limited.
The proposal has been evaluated by SEBI, RBI, CCI and other rel...