Board approves proposed acquisition of 60% stake in Meyonex Pharmaceuticals

Board approves proposed acquisition of 60% of Meyonex Pharmaceuticals.

Wed 7 Oct 2026

Stake Acquired

60% of Meyonex Pharmaceuticals

Fresh Shares to be Subscribed

2,09,97,180 at ₹32/- each

Total Consideration

₹67,19,09,760/-, entirely cash

What the board approved

Tavexia Lifecare Limited's board met on 07 October 2026 and approved the proposed acquisition of 60% of the post-allotment equity share capital of Meyonex Pharmaceuticals Limited, an unlisted public company in the pharmaceuticals sector. The stake is to be acquired by subscribing to fresh equity shares that Meyonex will issue and allot to Tavexia, not by buying shares from Meyonex's existing shareholders.

• Issue price approved: ₹32/- per equity share
• Fresh equity shares to be subscribed: 2,09,97,180
• Total consideration proposed: ₹67,19,09,760/-
• Mode of consideration: entirely in cash
• The acquisition is not related to Tavexia's promoter, promoter group or group companies

The board also took note of and approved the Valuation Report and Due Diligence Report prepared in relation to the proposed acquisition. The proposal had been discussed at the board's earlier meeting on 07 September 2026.

Shareholding after the proposed allotment

• Existing paid-up equity shares of Meyonex: 1,39,98,120 shares, or 40.00%
• Fresh equity shares to be issued and allotted to Tavexia: 2,09,97,180 shares, or 60.00%
• Total equity shares after the proposed allotment: 3,49,95,300 shares, or 100.00%
• Post-allotment holding of Tavexia: 2,09,97,180 shares, or 60.00%
• Post-allotment holding of existing shareholders: 1,39,98,120 shares, or 40.00%

Why the company says it is doing this

The stated objective is to acquire a controlling stake in Meyonex and to expand Tavexia's presence and business operations in the pharmaceutical sector.

About the target

Meyonex Pharmaceuticals Limited is an unlisted public company engaged in the pharmaceutical sector, incorporated in India on 17 January 2015, with its registered office in Tarapur, Palghar, Thane, Maharashtra.

• Turnover F.Y. 2024: Rs. 13,32075000/-
• Turnover F.Y. 2025: Rs. 10,79215000/-
• Face value of its shares: ₹10/- per equity share
• Paid-up capital: ₹20,00,00,000/-

How the company plans to fund it

The board considered the funding requirement for the investment of ₹67,19,09,760/- and approved in principle that the company may raise funds, as required, by issuing securities permitted under applicable laws, including equity shares, warrants, debentures/debt securities or any other securities, on a preferential basis or rights issue basis.

The quantum, size, nature, type, issue price, timing, mode and other terms of the fund raising are to be considered and determined by the board at a subsequent meeting, based on funding requirement, valuation, prevailing market conditions and applicable legal and regulatory requirements.

What still has to happen

• Execution of definitive agreements and fulfilment of the terms and conditions contained in them
• Completion of applicable conditions precedent, including statutory, regulatory, governmental, contractual and other approvals, consents and permissions
• Shareholder approval of the company, wherever required
• The transaction is proposed to be completed in one or more tranches

The board authorised designated representatives to undertake preliminary discussions and preparatory actions for the fund raising and the investment, and to negotiate, finalise and execute the requisite agreements and documents, subject to applicable approvals.

How to read this

This is a board approval of a proposed acquisition, not completion of the acquisition. The consideration figure and the shareholding structure are as approved by the board, and the transaction is still subject to definitive agreements, conditions precedent and the approvals that apply. A separate fund raise, which would fund the investment, has only been approved in principle, with its size and terms yet to be decided.

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