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 the equity share capital of Meyonex Pharmaceuticals Limited. The acquisition will be done through a subscription of fresh equity shares at an issue price of ₹32 per share, amounting to a total investment of ₹67,19,09,760 (₹671.91 Crore). This strategic move aims to increase Tavexia Lifecare's stake in Meyonex Pharmaceuticals to 60%, with existing shareholders retaining 40%. The Board also reviewed and approved the Valuation and Due Diligence reports related to this acquisition. The funding for this acquisition will be entirely in cash. Further, the Board considered the fund-raising requirements to finance this proposed investment.