Suven Pharmaceuticals witnessed a 5% surge in its shares on Saturday, marking a two-day gain of 15% following the announcement of its merger with Cohance Lifesciences. This strategic move aims to establish the combined entity as a prominent integrated CDMO (Contract Development and Manufacturing Organization) player in both the Indian and global markets.
Upon completion of the merger, existing shareholders of Cohance will receive shares of Suven at a ratio of 11 shares of Suven for every 295 shares of Cohance, as per the agreed swap ratio. The newly issued Suven shares will be available for trading on both the NSE and BSE.
