09-05-2025
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.
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