Exclusive: Suven Pharma promoters plan to sell entire stake

Suven Pharma Share Price: Pharmaceutical company Suven Pharmaceutical Limited's promoters are planning to sell their entire stake and give up management control, according to exclusive details available with Zee Business channel.

As per the report, promoters hold 60 per cent stake in the company. The company is in talks with many Private Equity (PE) players for around Rs 6000-7000 crore deal. Big names like Blackstone and Advent International are doing the rounds to buy the stake.

Click here to get more updates on Stock markets I Zee Business Live 

#ZBizExclusive | सुवेन फार्मा के लिए बड़ी खबर

प्रोमोटर्स की हिस्सा बेचने की योजना

कई PE निवेशकों के साथ बातचीत जारी

ब्लैकस्टोन, एडवेंट की हिस्सा खरीदने में दिलचस्पी

जानिए पूरी खबर स्वाति खंडेलवाल से...@SwatiKJain @AnilSinghvi_ #SuvenPharma pic.twitter.com/laMUl4xwtZ

— Zee Business (@ZeeBusiness) December 12, 2022

As per the report, if promoters sell the entire stake, they will be giving up management control and then it may trigger an open offer. The company is in advanced stages of talks and a formal announcement will be made soon.

The report said that promoters were earlier planning to sell only 30 per cent stake but now they are ready to sell the entire holdings as they are getting good valuation.

The report said that Suven Pharma and Suven Life Sciences were demerged earlier. The management will sell Suven Pharma and utilise the money for expansion of Suven Life Sciences businesses.

The talks of stake sale are going since September and a final announcement could be made before the end of the current financial year.

Meanwhile, shares of Suven Pharma on NSE quoted Rs 463.10 apiece, down 0.53 per cent. On BSE the stock traded at Rs 463. 65. YTD, the stock has declined around 6 per cent.

Sirca Paints Share Price: Stock jumps 4% after debut on BSE