Suven Pharmaceuticals Ltd. will acquire a 100% stake in Sapala Organics Pvt. on a fully diluted basis for Rs 229.5 crore. Suven Pharma will initially obtain 67.5% through secondary transfer from Sapala's existing shareholders, which represent 51% of the share capital of Sapala, according to the exchange filing on Thursday.
After the financial year 2027, the company will acquire the remaining shareholding of Sapala through a secondary purchase.
Sapala Organics is among the few contract drug developers and manufacturers with expertise in specialised building blocks, which is a strong differentiator. It matches Suven's idea of adding differentiated platform technology, it said.
Suven Pharma is delighted to partner with Sapala and believes it is a strong strategic fit, said Annaswamy Vaidheesh, executive chairman at Suven.
"With this acquisition, we now have multiple differentiated technology platforms, such as ADCs and Oligos, amongst others. We will continue to invest both organically and inorganically to further build on these,” he said.
Shares of Suven Pharmaceuticals closed 0.63% lower at Rs 667.25 apiece, as compared with a 0.27% rise in the benchmark BSE Sensex.
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