The promoters of Hyderabad-headquartered listed pharma player Suven Life Sciences are exploring a potential sale of their demerged arm catering to the pure play Contract Research And Manufacturing Services (CRAMS) segment, sources with the knowledge of the matter told Moneycontrol.“Suven Pharmaceuticals is the demerged wholly owned subsidiary of the company that has been put on the block and has applied to the bourses for permission to list. The promoters want to focus primarily on the discovery research undertaking involving molecules which is the business residing in the entity trading currently post the carve out. Plus, globally, valuations in the CRAMS segment are favourable right now so the exit timing is appropriate,” said a source.“Investment bank Barclays has been mandated for the sale process which is likely to be launched shortly. The deal is at a preliminary stage and is expected to attract strong interest from both private equity and strategic suitors,” added a second source.Close The domestic CRAMS segment witnessed a transaction in July 2018 when US private equity firm TPG acquired a significant minority stake in Hyderabad based Sai Life Sciences. The financial terms of the transaction were not disclosed. related news Suven Life Sciences shares trade ex-demerger, record… Read full this story
- Girls and women in science: Where do they stand?
- YEARENDER: Armed forces enter the missile age
- A look at the new law on protecting children during armed conflict
- PDIC eyes record P3.1 billion from sale of office spaces
- Cebu Pacific suspends Christmas fare sale
- Strong US retail sales boost economic outlook
- Final Metropass goes on sale Friday
- OSG clueless on $3 million sale of Marcos paintings
- Sales of luxury apartments here hit 11-year high
- How Loss Aversion affects your love life
Exclusive: Suven Life Sciences evaluating sale of demerged CRAMS arm, engages Barclays as sale adviser have 291 words, post on www.moneycontrol.com at February 12, 2020. This is cached page on Business Breaking News. If you want remove this page, please contact us.