Suven Pharmaceuticals Limited (NSEI:SUVENPHAR) agreed to acquire 67.50% stake in Sapala Organics Private Limited for INR 2.3 billion on June 13, 2024. A cash consideration of INR 2.29 billion will be paid by Suven Pharmaceuticals Limited. As part of consideration, INR 2.29 billion is paid towards common equity of Sapala Organics Private Limited.

For the period ending March 31, 2024, Sapala Organics Private Limited reported total revenue of INR 670 million.

The transaction is subject to customary closing conditions.

The expected completion of the transaction is July 1, 2024 to September 30, 2024.

Banyan Advisory and Steadmount Capital Advisors acted as financial advisor for Sapala Organics Private Limited.