The board of Suven Life Sciences approved raising upto Rs 400 crore by issuing equity shares on right basis.
The board has also approved increase in the authorized share capital from Rs 20 crore divided into 20 crore equity shares of Rs 1 each to Rs 30 crore divided into 30 crore equity shares of Rs 1 each and consequential alteration in the memorandum of association of the company, subject to the approval of shareholders of the company.Suven Life Science is a biopharmaceutical company focused on discovering, developing, and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies using GPCR targets.
On consolidated basis, the pharmaceutical company reported a net loss of Rs 20.80 crore as against a net loss of Rs 21.61 crore in Q4 FY22 over Q4 FY21. Net sales jumped 170.5% YoY to Rs 4.22 crore during the quarter.
Shares of Suven Life Sciences rose 0.59% to Rs 76.90 on the BSE.
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