Suven of India places 40M shares with BIL
Indian firm Suven Pharmaceuticals says it will place 40 million equityshares of 250 rupees ($5.35) with Norway's Borregaard Industries Ltd, part of the Orkla group, which has interests in pharmaceuticals, fine chemicals and advanced intermediates for use by life sciences companies. The board of Suven, according to the Financial Express reported by India Infoline, has also approved a proposal to issue an additional 60 million equity shares of 10 rupees each, at a price not less than the Indian Securities and Exchange Board's pricing to various investors.
The proceeds are to be used to create manufacturing facilities and upgrade existing units, repayment of debt, acquisitions, investment in R&D and clinical trials.
According to the Financial Express, Suven, which posted sales of 296.7 million rupees and net profit of 79.3 million rupees for the six months ended September 2000, is close to commercializing three intermediates in the anti-AIDS, intravenous products, anesthetic and antihypertensive sector.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze