Board approves 60% controlling stake in Meyonex Pharmaceuticals via ₹67.19 Crore share subscription

Board approved a 60% controlling stake in Meyonex Pharmaceuticals through a cash subscription of 2,09,97,180 fresh equity shares at ₹32 each, valued at ₹67.19 Crore.

Mon 12 Oct 2026

Stake Acquired

60% controlling stake in Meyonex Pharmaceuticals

Subscription Details

2,09,97,180 fresh equity shares at ₹32 each

Deal Value

₹67.19 Crore

Tavexia Lifecare Ltd (formerly Sattva Sukun Lifecare Ltd) has informed the exchanges of a refreshed corporate brand, a change in the scope of business allowed to it, and a proposed acquisition of a controlling stake in a pharmaceutical company.

What the board approved

• Acquisition of a 60% controlling equity stake in Meyonex Pharmaceuticals Limited
• The route is a cash subscription of 2,09,97,180 fresh equity shares
• The value is ₹67.19 Crore, at an issue price of ₹32 per share

What Meyonex brings

• Established manufacturing and commercial operations based in MIDC Tarapur, Maharashtra, giving direct access to high-demand pharma product lines
• The company expects an immediate growth runway and operational efficiencies, enabling it to scale its revenue baseline

Wider business scope

The company has altered its Main Object Clause under its Memorandum of Association, opening avenues across:

• Active Pharmaceutical Ingredients (APIs) and bulk drugs
• Finished dosage forms and formulations: tablets, capsules, injectables and advanced delivery formats
• CDMO and CRAMS services, that is contract development, research and manufacturing
• Nutraceuticals and biotechnology

How the expansion is funded

The update states that the management has initiated plans for strategic fund-raising through permissible equity or convertible instruments, described as maintaining capital discipline while backing accretive growth.

Sector view in the update

The pharma and lifecare sector is described as resilient and high-margin, supported by domestic manufacturing tailwinds, global supply-chain diversification known as China+1, and demand for specialised generic formulations and contract manufacturing.

What this means for a retail reader

• The company is broadening what it is permitted to do and taking a controlling stake in an operating pharma business
• The stake is being taken through fresh shares issued by Meyonex, for cash
• The larger fund-raising to support the expansion is described as plans initiated by management

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