Board approves 60% acquisition of Meyonex Pharmaceuticals for Rs 67.19 crore
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Tavexia Lifecare board approved acquiring 60% stake (2.10 crore shares) in unlisted pharma company Meyonex Pharmaceuticals at Rs 32 per share, totaling Rs 67.19 crore in cash. Post-allotment, Tavexia will hold 60% and existing shareholders 40%. Deal expands Tavexia's pharma presence. Meyonex turnover: Rs 133.2 crore in FY24 and Rs 107.9 crore in FY25. Funding planned via preferential issue, rights issue, or other securities, which may dilute existing shareholders. Subject to shareholder and regulatory approvals.
Major expansion into pharma via 60% subsidiary acquisition. Possible equity dilution from fund raise. Subject to shareholder and regulatory approvals.