Exclusive | Suven Pharma on the block, in talks with PE, strategic firms for control deal: Sources

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There’s a large deal brewing in the pharma sector, sources suggest that Suven Pharma is on the block. Sources share that the Promoters are evaluating options to sell Suven Pharma and have hired an investment bank to advise on majority stake sale in the company.

Sources suggest that Suven Pharma is in talks with Private Equity firms and strategic players for sale of the company in which 60% stake is held by the promoters.

“Sale of Suven Pharma is to raise funds for drug development in Suven Life Sciences which have so far been funded by the promoters through dividend earned from Suven Pharma,” a source added.

Moneycontrol had earlier reported on the promoter group exploring sale plans for Suven Pharmaceuticals prior to its listing on the bourses, on February 12, 2020.

Suven Pharma has not responded to our query on deal talks. Suven Pharma was demerged from Suven Life in 2020.

Drug development company Suven Life Sciences had announced a rights issue of Rs 400 crore in June 2022.