Suven Pharmaceuticals soars on inking pacts to acquire 100% stake in Sapala Organics
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Suven Pharmaceuticals is currently trading at Rs. 699.40, up by 32.15 points or 4.82% from its previous closing of Rs. 667.25 on the BSE.
The scrip opened at Rs. 697.35 and has touched a high and low of Rs. 705.00 and Rs. 686.10 respectively. So far 3313 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 767.00 on 04-Jan-2024 and a 52 week low of Rs. 427.05 on 27-Jun-2023.
Last one week high and low of the scrip stood at Rs. 705.00 and Rs. 638.00 respectively. The current market cap of the company is Rs. 16985.85 crore.
The promoters holding in the company stood at 50.10%, while Institutions and Non-Institutions held 26.79% and 23.10% respectively.
Suven Pharmaceuticals has executed definitive agreements on June 13, 2024, for acquiring 100% of equity shares (on a fully diluted basis) in Sapala Organics. Sapala Organics is a Hyderabad based CDMO focused on Oligo drugs and nucleic acid building blocks including Phosphoramidites & Nucleosides, drug delivery compounds (including GalNAc), Pseudouridine, amongst others.
The company has agreed to initially acquire 67.5% by way of secondary transfer from Sapala Organics’ existing shareholders. This represents 51% of the share capital of Sapala Organics on a fully diluted basis. After financial year 2026-27, the company will acquire the balance shareholding through secondary purchase, such that, post consummation, the company will own 100% of the share capital of Sapala Organics on a fully diluted basis.
Suven Pharmaceuticals is a bio-pharmaceutical company, incorporated with the object of being engaged in the business of development and manufacturing of New Chemical Entity (NCE) based Intermediates, Active Pharmaceutical Ingredients (API), Speciality Chemicals and formulated drugs under contract research and manufacturing services for global pharmaceutical, biotechnology and chemical companies.
