Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2014-12-05

Suven Life Sciences targets next level of growth; raises Rs 200 crore via QIP

The pharmaceutical firm allotted 1,04,53,690 equity shares at a price of Rs 191.32 per share to qualified institutional investors

Mid-size drug maker Suven Life Sciences Limited has raised Rs 200 crore (approximately $32 million) through qualified institutional placement (QIP) route to fund its clinical development programme and capital expenditure, according to a VCCircle report.

The report stated that the pharmaceutical firm allotted 1,04,53,690 equity shares at a price of Rs 191.32 per share to qualified institutional investors which resulted in the decrease of stake holding of promoters to 59 percent as against 64.76 per cent on September 30, 2014.

“This is our public raise after 10 years since our preferential issue during 2004. One of the strategic objectives of this deal was to get the right set of long-term investors of high credibility and the willingness to back the long-term business plan of our company,” Venkat Jasti, chairman, Suven Life Sciences Limited told VCCircle.

Suven Life Sciences is in the business of design, manufacture and supply of Bulk Actives, Drug Intermediates and Fine Chemicals catering to the needs of global Life Science Industry.

Amit Rathi, MD, Anand Rathi Advisors, told VCCircle, “The response to this transaction, including the pedigree of investors, has been fantastic. This sets up the company to catapult itself into the next exciting phase of growth.”

Related opportunities
  • Healthcare Products
    MICROSIDD India Private Limited is registered under Ministry of Commerce,..
    Locations looking for expansion Karnataka
    Establishment year 1999
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Urban District Karnataka
  • About Us GingerBread House IND is efficiently managed & headed by..
    Locations looking for expansion West Bengal
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 1300 - 1400 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Kolkata West Bengal
  • About:Mr. Chander Kamal Baljee, Managing Director of Royal Orchid Hotels..
    Locations looking for expansion Karnataka
    Establishment year 1987
    Franchising Launch Date 2016
    Investment size Rs. 2 Cr. - 5 Cr
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Urban District Karnataka
  • BE A PART OF 361DM SUCCESS STORY !!!   A..
    Locations looking for expansion Tamil Nadu
    Establishment year 2006
    Franchising Launch Date 2011
    Investment size Rs. 2lac - 5lac
    Space required 750-1000 Sq. ft.
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Chennai Tamil Nadu
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities