Tavexia Lifecare to acquire 60% of Meyonex Pharma for ₹671.9 Cr

Tavexia Lifecare Limited's Board of Directors has approved the proposed acquisition of up to 60% of Meyonex Pharmaceuticals Limited's equity share capital. The acquisition will be executed through a subscription of fresh equity shares by Tavexia Lifecare, at an issue price of ₹32 per share. This will result in Tavexia Lifecare holding 60% of Meyonex's post-allotment equity share capital, with existing shareholders retaining 40%. The total investment for this acquisition amounts to ₹67,19,09,760 (₹671.91 Crore), to be paid entirely in cash. The Board also approved the Valuation and Due Diligence Report for the transaction. The company is also considering fund-raising options to finance this acquisition.