Board approves up to 60% stake in Meyonex Pharmaceuticals via fresh equity subscription

Board meeting held Wednesday, 07 October 2026, 9:30 PM to 10:25 PM.

Wed 7 Oct 2026

Stake Acquired

up to 60% of the equity share capital of Meyonex Pharmaceuticals Limited

Deal Size

2,09,97,180 fresh equity shares at ₹32/- each = ₹67,19,09,760/-, entirely in cash

Post-Allotment Shareholding

Tavexia Lifecare 60%; existing Meyonex shareholders 40%

Board meeting outcome

Tavexia Lifecare Ltd, formerly Sattva Sukun Lifecare Ltd, informed the exchanges about the outcome of its Board meeting held on Wednesday, 07 October 2026. The meeting commenced at 9:30 PM and concluded at 10:25 PM. Two connected matters were dealt with: buying a controlling stake in an unlisted pharmaceutical company, and arranging the money to pay for it.

What was approved

• The Board approved the proposed acquisition of up to 60% of the equity share capital of Meyonex Pharmaceuticals Limited, an unlisted public company.
• The route is subscription to fresh equity shares to be issued and allotted by Meyonex to Tavexia Lifecare, so the consideration flows into Meyonex as new capital.
• The Board took note of and approved the Valuation Report and Due Diligence Report in relation to the proposed acquisition.
• The proposal had been discussed at the Board's earlier meeting held on Monday, 07 September 2026.

Deal size and shareholding

• Fresh equity shares proposed to be issued and allotted to Tavexia Lifecare: 2,09,97,180.
• Issue price: ₹32/- per equity share, based on the valuation undertaken.
• Total consideration/investment proposed: ₹67,19,09,760/-, to be made entirely in cash.
• Existing paid-up equity shares of Meyonex Pharmaceuticals Limited: 1,39,98,120, being 40.00%.
• Total equity shares after the proposed allotment: 3,49,95,300, being 100.00%.
• Post-allotment holding of Tavexia Lifecare: 2,09,97,180 shares, being 60.00%; existing shareholders' holding: 1,39,98,120 shares, being 40.00%.
• Meyonex has a face value of ₹10/- per equity share and paid-up capital of ₹20,00,00,000/-.

How the purchase is proposed to be funded

• The Board approved in principle that the Company may raise funds, as may be required, for financing the consideration payable towards the proposed investment/acquisition, by way of issue of such securities as may be permitted under applicable laws, including equity shares, warrants, debentures/debt securities or any other securities, on a preferential basis or a rights issue basis.
• The quantum, size, nature, type, issue price, timing, mode and other terms of the proposed fund raising are to be considered and determined by the Board at a subsequent meeting.
• Designated representatives were authorised to undertake preliminary discussions, evaluations and preparatory actions, and to negotiate, finalise and execute the requisite agreements, documents and applications.

About the target

• Meyonex Pharmaceuticals Limited is an unlisted public company engaged in the pharmaceutical sector, incorporated on 17 January 2015, operating in India, with its registered office at Plot No C - 13 MIDC Tarapur Palghar, Thane, Maharashtra, India, 401506.
• Turnover: F.Y. 2024 Rs. 13,32075000/-; F.Y. 2025 Rs. 10,79215000/-. The disclosure also lists turnover of the target entity for the last 3 financial years as ₹13,99,81,200/-.
• The stated objective is to acquire a controlling stake in Meyonex Pharmaceuticals Limited and expand the Company's presence and business operations in the pharmaceutical sector.

Other points from the disclosure

• The proposed acquisition is stated as not related to the promoter/promoter group/group companies of Tavexia Lifecare Limited; interest of the promoter/promoter group in the entity being acquired is stated as not applicable, and the acquisition is stated as not a slump sale.
• The consideration and mode of payment shall be in cash pursuant to the valuation and negotiations, and shall be specified in the definitive agreements.
• The transaction is proposed to be completed in one or more tranches by the company, subject to execution of definitive agreements and completion of all applicable conditions precedent, including statutory, regulatory, governmental, contractual and other approvals, consents and permissions.

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