Cohance Lifesciences Promoters Pledge Shares for $285M Loan
Cohance Lifesciences Limited (formerly Suven Pharmaceuticals) has disclosed that its promoters, Jusmiral Holdings Ltd and Berhyanda Ltd, along with their respective holding entities (Jusmiral Midco Ltd and Berhyanda Midco Ltd), have encumbered their shares. This action is related to a USD 285 million term loan facility secured by Jusmiral Holdings and Berhyanda Limited. Specifically, Jusmiral Holdings has pledged 80,434,990 equity shares (21.02% of total capital) in Cohance Lifesciences to secure its portion of the loan. Jusmiral Midco and Berhyanda Midco have also agreed to covenants and created pledges on their shareholdings in Jusmiral Holdings and Berhyanda Limited, respectively, restricting disposal and further encumbrance.
Key Highlights
- Promoters Jusmiral Holdings and Berhyanda Limited pledged shares in Cohance Lifesciences.
- Encumbrance is for a USD 285 million term loan facility.
- Jusmiral Holdings pledged 21.02% of its stake in the company.
- Holding companies also encumbered their shares in promoters.
- Disclosure filed under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations.
Price Impact
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