The Hindu Business Line : Suven board to consider merger of subsidiary

SUVEN Pharmaceuticals Ltd has informed the stock exchanges that a meeting of its board of directors would be held on December 4 to consider the merger of its subsidiary — Suven Synthesis Ltd — into the company.

The board would also consider and approve a proposal for further issue of shares on a preferential allotment basis. The other proposals include splitting of shares and increase in investment limits of foreign institutional investors.

Stating that the details of the preferential offer would be finalised at the board meeting, the Managing Director, Mr Venkat Jasti, told Business Line that the company proposed to raise the funds required to meet the capital expenditure programmes and also to clear debts.

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