Suven Pharmaceuticals Limited (NSEI:SUVENPHAR) agreed to acquire Cohance Lifesciences Limited on February 29, 2024. Upon completion all shareholders of Cohance will be issued shares of Suven at the ratio of 11 shares of Suven for every 295 shares of Cohance, based on the swap ratio. The overall transaction is expected to conclude over next 12-15 months subject to receipt of all relevant shareholder and regulatory approvals.

Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited acted as financial advisor Shardul Amarchand Mangaldas & Co acted as legal advisor and Kotak Mahindra Capital Company Limited acted as fairness opinion provider to Suven Pharmaceuticals Limited on the transaction whereas PwC and BDO was appointed as independent valuers by Suven and Cohance respectively.