Suven Pharma allots 12.8 crore shares under merger with Cohance; company renamed as Cohance Lifesciences
By News Desk Published on May 9, 2025, 09:24 IST
Suven Pharmaceuticals Limited, now renamed Cohance Lifesciences Limited, has announced the allotment of 12,80,02,184 equity shares as part of its approved Scheme of Amalgamation with Cohance Lifesciences, the company said in a regulatory filing on May 9.
The allotment follows the order from the National Company Law Tribunal (NCLT), Mumbai bench, dated March 27, 2025, approving the merger under Sections 230 to 232 of the Companies Act, 2013. As per the share exchange ratio detailed in the scheme, eligible shareholders of Cohance (Transferor Company) have received 11 equity shares of Re. 1 each of Suven Pharma (Transferee Company) for every 295 equity shares of ₹10 each held in the transferor company.
The newly issued shares will be listed and traded on the BSE and NSE, and will rank pari-passu with the existing equity shares of the company.
As part of the allotment, the company has also:
Allotted 18 equity shares to a Fractional Share Demat Account, to accommodate fractional entitlements.
Allotted 34,906 shares to an Unclaimed Securities – Suspense Escrow Account, representing shares of eligible shareholders whose individual demat details were unavailable as of the record date.
The company had previously intimated the exchanges on May 7 about its official name change to Cohance Lifesciences Limited, following approval from the Ministry of Corporate Affairs.
News desk at BusinessUpturn.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
2 hours ago
- Business Upturn
Suzlon Energy Block Deal: Over 19 crore shares worth Rs 1,300 crore changes hands in block deal window, promoter sells
Shares of Suzlon Energy will be in focus today after a large block deal was executed on the NSE during the morning block window. As per exchange data, over 19.81 crore shares of Suzlon Energy changed hands, amounting to a total deal value of Rs 1,308.87 crore. The deal was executed at a price of Rs 66.05 per share, marginally below the previous close. Market sources indicate that promoters are the likely sellers in this transaction. The stock will remain in focus during the session following this significant block deal. Disclaimer: This article is for informational purposes only and is based on publicly available data and brokerage reports. It does not constitute investment advice. Please consult with a certified financial advisor before making any investment decisions. Neither the publication nor the author will be responsible for any losses incurred. News desk at
Business Upturn
2 hours ago
- Business Upturn
Stocks in focus today: BEL, UPL, Infosys, NTPC, Lupin, KEI, L&T ESG bond, Suzlon stake sale reports among key stocks to watch
By News Desk Published on June 9, 2025, 08:02 IST Indian equities are likely to track a busy news flow on Monday with several key corporate announcements, regulatory approvals, MoUs, credit updates, and sector developments in focus. Among the notable corporate updates, Bharat Electronics and Tata Electronics signed an MoU to advance India's self-reliance in electronics and semiconductors, while UPL announced the sale of Serra Bonita assets in Brazil for $125 million. GHV Infra received a road construction order worth Rs 546 crore in Mumbai, and KEI Industries saw a credit rating upgrade to IND AA+ with stable outlook from India Ratings. Azad Engineering saw Nomura buying a stake worth Rs 66 crore in a block deal, and Tata Communications announced a new subsea cable project linking Singapore, Hong Kong, and Japan to boost connectivity. In other deals, Panorama Studios signed a 5-year exclusive airborne rights agreement with Digital 18 Media for 50 Hindi films, while a Kernex/KEC consortium secured a Rs 182.81 crore contract from Western Railways for KAVACH 4.0 installation. IDFC First Bank gained after CCI allowed Warburg Pincus to acquire up to 10% in the bank. Afcons received a Rs 700 crore order from Reliance Industries. Among pharma names, Lupin secured tentative USFDA approval for Oxcarbazepine ER tablets, while Nazara Technologies acquired Smaaash Entertainment for Rs 126 crore. Infosys also got closure from GST Intelligence on a Rs 32,403 crore pre-show cause notice, while NTPC started commercial operations of its 250 MW Tehri PSP unit. Meanwhile, NOCIL and Yasho Industries will be in focus after India imposed anti-dumping duties on certain imports from China, Japan, and the EU. In other sectoral news, Jefferies remains bullish on Indian cement, expecting a pricing recovery in Q1 and profitability turnaround in FY26, with UltraTech, Shree Cement, and JK Cement as top picks. M&M reported a 28% YoY rise in May production, while Hindustan Copper and RITES signed an MoU for establishing a sustainable metal supply chain. On the neutral side, RattanIndia Power and Punjab National Bank reported key management resignations, and Bajaj Finance set June 16 as the record date for stock split and bonus shares. L&T announced a landmark Rs 500 crore ESG bond issue — the first such issuance by an Indian corporate under SEBI's new framework. Suzlon Energy could remain volatile amid reports that promoters may look to sell a significant stake via block deals. On the negative side, VIP Industries faces a commercial suit filed by Jiaxing Bianca Travel Goods in Bombay Civil Court. Dividend ex-dates today include Nelco (Rs 1/share), while Asian Paints, Indian Bank, Johnson Controls, Tata Investment, and Vesuvius India will trade ex-dividend from tomorrow. Vesuvius India will also undergo a stock split from Rs 10 to Rs 1. News desk at
Business Upturn
2 hours ago
- Business Upturn
Step-By-Step Guide to Home Loan Process
By News Desk Published on June 9, 2025, 09:04 IST Owning a home is a cherished dream for many. It is a significant feat that symbolises stability and personal achievement. Getting a Home Loan is one of the most advantageous financial options for aspiring homeowners. This guide elucidates the merits of opting for a home loan and provides a detailed walk-through on how to apply for a Home Loan online, thereby ensuring a smooth and efficient path to acquiring your dream home. Step 1: Assessing Your Eligibility The first step in the Home Loan application process is to assess your eligibility. This involves evaluating several criteria to ensure you meet the basic requirements set by the lender. Key eligibility criteria typically include: Age Requirements: Borrowers generally need to be between 24 and 70 years old. Borrowers generally need to be between 24 and 70 years old. Stable Income and Employment History: Demonstrating a consistent income and stable employment makes you a credible borrower. Demonstrating a consistent income and stable employment makes you a credible borrower. Good Credit Score: A healthy credit score improves your chances of approval and getting better interest rates. A healthy credit score improves your chances of approval and getting better interest rates. Professional Experience: A minimum of three years of professional experience is usually preferred. Required Documents: Ensuring you have all these documents ready can streamline and expedite the application process. You will need: Valid identity, residence, and signature proof. Latest Form 16 or Income Tax Returns (ITR). Latest salary slips or salary certificates. Bank statements for the past six months. Step 2: Choosing the Right Home Loan There are various Home Loan products tailored to different needs. Understanding the available options helps you choose the best that suits you. Common options include: Home Loan Balance Transfer: Allows you to pay off an existing loan with a new one at a lower interest rate, helping you save on interest payments over time. Allows you to pay off an existing loan with a new one at a lower interest rate, helping you save on interest payments over time. Top-up Loan: Existing borrowers can avail additional funds with minimal documentation. Existing borrowers can avail additional funds with minimal documentation. Plot plus Construction Loan: Finances both the purchase of land and the construction of a home, giving you the flexibility to build your house without hesitation. Finances both the purchase of land and the construction of a home, giving you the flexibility to build your house without hesitation. Home Renovation/Extension Loan: You can borrow funds to upgrade and renovate your existing home. You can borrow funds to upgrade and renovate your existing home. Home Loans to NRI: Specialised offering for NRIs with a higher loan tenure. Specialised offering for NRIs with a higher loan tenure. Approved Project Home Loan: Lenders often offer an inventory of pre-approved projects. Step 3: Applying for a Home Loan Online Applying for a Home Loan online offers faster processing and convenience, allowing you to apply anytime, anywhere. Here's how to do it: Visit the Bank's Website: Navigate to the Home Loan section and select the desired loan product. Fill Out the Application Form: Provide all necessary details such as personal information, employment details, and loan requirements. Upload Required Documents: Ensure all documents are scanned and uploaded correctly to avoid delays. Submit the Application: Once submitted, you will receive a confirmation, and the bank will begin processing your application. Step 4: Verification and Approval After submitting your application, the bank will get in touch with you to verify the documents and assess your eligibility. The average approval timeline for a Home Loan is three days. The bank will communicate the approval status and any additional requirements needed. This process typically involves: Reviewing Financial History: Checking your credit score and financial stability. Checking your credit score and financial stability. Evaluating Property Details: Ensuring the property meets the bank's criteria. Ensuring the property meets the bank's criteria. Conducting Legal and Technical Checks: Verifying the property's legal status and conducting technical evaluations. Step 5: Disbursal of Loan Once approved, the Home Loan amount is disbursed. Important considerations include: Disbursement Stages: For construction loans, disbursement occurs in stages as per the construction progress. For construction loans, disbursement occurs in stages as per the construction progress. Document Verification: Ensures all property-related documents are in order before disbursal. Ensures all property-related documents are in order before disbursal. Loan Agreement: Review the terms and conditions thoroughly before signing. Conclusion By understanding each step of the Home Loan process, you can avoid potential pitfalls and make informed decisions when applying for a Home Loan online. For a seamless and hassle-free experience, consider applying for your Home Loan with a trusted bank like IndusInd Bank, they offer a range of services and benefits designed to make your home buying journey smoother and more efficient. News desk at
