Suven Pharmaceuticals Ltd has secured a key regulatory approval from the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, for increasing its aggregate foreign investment above 74% following its merger with Cohance Lifesciences Ltd.
In a filing to the stock exchanges on April 22, 2025, the company announced it has received the approval under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, for the proposed restructuring. This development marks a significant milestone in the merger process that has been underway since the Board of Directors first approved the amalgamation scheme on February 29, 2024.
The National Company Law Tribunal (NCLT), Mumbai Bench, had already sanctioned the Scheme of Amalgamation on March 27, 2025. With the receipt of this final regulatory nod, Suven Pharma is now closer to finalizing the merger with Cohance Lifesciences.
The company stated that the “Effective Date” of the merger will be the first business day of the month following the completion of all conditions laid out in the Scheme of Amalgamation. The final date will be communicated to stock exchanges in due course.
The merger aims to enhance operational efficiency and streamline business structures under a unified pharmaceutical entity, with Suven Pharma emerging as the combined face of the organization.
Disclaimer: This news article is based on official regulatory disclosures submitted to stock exchanges. Investors are advised to consult their financial advisors before making any investment decisions.
