Jusmiral Holdings Limited has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.
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Jusmiral Holdings Limited, a promoter of the transferor company in the recently approved amalgamation, has disclosed acquisition of shares in the listed entity Cohance Lifesciences (formerly Suven Pharmaceuticals, scrip code 543064) under SEBI's Takeover Regulations. The transaction stems from the Scheme of Amalgamation approved by the NCLT Mumbai Bench on March 27, 2025, under which Suven Pharmaceuticals (the listed transferee company) absorbed the transferor entity. Under the scheme, 11 equity shares of Re.1 each were allotted in Cohance for every 295 shares of Rs.10 each held in the transferor company. Consequently, Jusmiral Holdings was allotted 12,65,38,578 equity shares, representing 33.08% of the post-allotment share capital, making it part of the promoter group. Existing promoter Berhyanda Limited's stake moved from 50.10% to 33.34%, with the total promoter group now holding 66.41%. The listed entity has also been renamed from Suven Pharmaceuticals to Cohance Lifesciences effective May 7, 2025.
This is a post-merger regulatory filing confirming share allotment to the transferor company's promoters following the successful NCLT-approved amalgamation. No open offer is triggered as the acquisition is exempt under Regulation 10(1)(d)(ii) due to the court-approved scheme. Existing promoter Berhyanda's stake has been diluted, but the combined promoter group has expanded, strengthening overall promoter control of the listed entity.