Board approves acquisition of 60% controlling stake in Meyonex Pharmaceuticals for ₹67.19 Crore

Tavexia Lifecare's board has approved acquiring a 60% controlling stake in Meyonex Pharmaceuticals for ₹67.19 Crore, through 2,09,97,180 fresh equity shares at ₹32 each in cash.

Mon 12 Oct 2026

Stake Acquired

60% controlling stake in Meyonex Pharmaceuticals

Deal Value

₹67.19 Crore

Consideration

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

What the company announced

• Its board of directors has approved the acquisition of a 60% controlling equity stake in Meyonex Pharmaceuticals Limited.
• The acquisition is valued at ₹67.19 Crore.
• It will be executed through a cash subscription of 2,09,97,180 fresh equity shares at an issue price of ₹32 per share.
• Meyonex's manufacturing and commercial operations are situated in MIDC Tarapur, Maharashtra, which the update says provides an immediate operational foothold.

Widening the business

• Tavexia has altered its Main Object Clause under its Memorandum of Association to open new avenues.
• The segments listed are Active Pharmaceutical Ingredients (APIs) and bulk drugs, finished dosage forms and formulations such as tablets, capsules and injectables, CDMO and CRAMS services, and nutraceuticals and biotechnology.
• The update also refers to a refreshed corporate identity; the company was formerly Sattva Sukun Lifecare Limited.

How it is being funded

• Management has initiated plans for strategic fund-raising through permissible equity or convertible instruments.
• The stated aim is capital discipline while backing accretive growth.

What the company expects

• The acquisition of Meyonex is expected to deliver significant synergies and an immediate growth runway to scale the revenue baseline and leverage operational efficiencies.
• The company also cites sector tailwinds: support for domestic manufacturing, global supply-chain diversification (the update calls this "China+1") and rising demand for specialised generic formulations.

Points to keep in mind

• The board has approved the acquisition; the subscription of 2,09,97,180 shares at ₹32 per share adds up to the ₹67.19 Crore value stated in the update.
• A 60% stake is described in the update as controlling, meaning Tavexia would hold a majority of Meyonex's equity rather than the whole company.
• The fund-raising is described as plans that management has initiated, through equity or convertible instruments.
• The Main Object Clause change widens the activities the company can undertake, alongside the stake purchase itself.

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