Corporate Action8 Jul 2026, 05:00 pm
Suven Life Sciences Allots 1.85 Cr Shares, Raises ₹248.8 Cr
AI Summary
Suven Life Sciences Ltd announced a revised outcome of its Board of Directors meeting held on July 8, 2026. The board approved the conversion of 1,85,70,133 fully paid warrants into equity shares, allotting them on a preferential basis to 17 non-promoter entities at an issue price of ₹134 per share. This issuance raised ₹248,83,97,822. The company also approved the re-appointment of Dr. Vajja Sambasiva Rao as an Independent Director for a second five-year term and the incorporation of a wholly-owned subsidiary in Singapore. The board meeting commenced at 11:50 AM IST and concluded at 12:35 PM IST.
Key Highlights
- Suven Life Sciences allotted 1.85 Cr equity shares via preferential issue.
- Raised ₹248.8 Cr from the preferential allotment of shares.
- Approved incorporation of a wholly-owned subsidiary in Singapore.
- Re-appointed Dr. Vajja Sambasiva Rao as Independent Director for a second term.
Price Impact
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