Suven Pharma arm divests stake in Rising Pharma Holdings, Inc., USA

Suven Pharma Inc., USA, WOS of Suven Pharmaceuticals Limited (SPL) has divested its entire stake in Rising Pharma Holdings, Inc., USA on 13th December, 2021 to Raisin Aggregator, L.P. USA one of the investment arm of H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with over $45 billion of equity capital under management. As part of the structured deal Suven Pharma Inc., USA received cash and 7% stake in Raisin Aggregator, L.P. USA, the new company.

Rising Pharma Holdings Inc., USA (JV partner of Suven Pharma Inc., USA) is a pharmaceutical industry focused on generic and speciality formulations for US market. The turnover of the company ending December 31, 2020 is 329.40 Mn USD.

Suven Pharma, Inc., divested the entire stake of 25% in Rising Pharma Holdings, Inc., for a cash consideration of 40,584,057 USD and received 7% stake in Raisin Aggregator, L.P. USA valued at 15,800,000 USD.

Shares of Suven Pharmaceuticals Limited was last trading in BSE at Rs. 519.55 as compared to the previous close of Rs. 516.20. The total number of shares traded during the day was 2716 in over 260 trades.

The stock hit an intraday high of Rs. 522.35 and intraday low of 514.10. The net turnover during the day was Rs. 1406722.00.

Source : Equity Bulls

Keywords

SuvenPharmaceuticals INE03QK01018 StakeSale RisingPharmaHoldings HIGCapital RaisinAggregator Cash Stake