Cohance Lifesciences Promoters Pledge Shares for $285M Loan

Cohance Lifesciences Limited (formerly Suven Pharmaceuticals) has disclosed that its promoters, Jusmiral Holdings Limited and Berhyanda Limited, along with their respective holding entities Jusmiral Midco Limited and Berhyanda Midco Limited, have encumbered their shares. This action is in relation to a USD 285 million term loan facility. Jusmiral Holdings Limited has pledged 80,434,990 shares (21.02% of total capital), and both promoters have agreed to covenants restricting disposal and security creation on their shareholdings. The total promoter holding in Cohance Lifesciences is 57.49%.