Suven Pharmaceuticals shares traded in the green and 2% above on 11 October after the company announced an open offer for acquiring 6.61 crore shares by Berhyanda Limited.

Berhyanda Ltd is a Cyprus-based company that has made a cash offer for 6.61 crore equity shares of Suven Pharma, representing 26% of the voting share capital of the company, at a price of Rs 495 per share.

The price offered by the company of Rs 495 per share is at a discount of Rs 79 to the current market price.

If the offer is fully accepted, the total consideration of the offer size will be Rs 3,276 crore.

The open offer is set to begin on 20 October and will close on 3 November.

On 29 September, Berthyanda Ltd acquired a 50% stake in the pharma company, and to acquire the existing 26%, the firm had to make an open offer.

Berhyanda Ltd acquired a 50% stake in the pharma company from its promoter group, Jasti Property and Equity Private Holdings Limited.

The company said, “All public shareholders who own Suven Pharmaceuticals equity shares and are able to tender such equity shares in this offer at any time before the closure of the tendering period, are eligible to participate in this open offer.”

At 3:30 pm, the shares of Suven Pharmaceuticals closed at Rs 574 or 2.11% above its previous close on NSE.