Cabinet nod for Rs 9,589-cr FDI in Suven Pharma
The proposal has been evaluated by Sebi, RBI, CCI and other relevant agencies
FDI in Pharma Sector
♦ Total FDI in pharma at Rs43,713 cr in last 5 years
♦ 58% FDI growth in last FYturnover of Rs260.84 cr in FY22
New Delhi: The government on Wednesday approved a foreign investment of up to Rs 9,589 crore in Hyderabad-based Suven Pharmaceuticals by Cyprus-based Berhyanda Ltd.
The approval is for acquisition of up to 76.1 per cent shares of Suven Pharmaceuticals by Berhyanda by way of transfer of shares from existing promoter shareholders and public shareholders through mandatory open offer, an official release said after the meeting of Cabinet Committee on Economic Affairs. The aggregate foreign investment may increase to up to 90.1 per cent in Suven, the release said.
The proposal has been evaluated by Sebi, RBI, CCI and other relevant agencies. The release further said the approval has been granted after examination of the proposal by departments concerned, RBI and Sebi and is subject to the fulfilment of all rules and regulations as applicable in this regard.
