Senores Pharmaceuticals Limited has successfully completed its acquisition of 8,454 equity shares in Havix Group Inc. (Aavis Pharmaceuticals), finalizing a transaction that began in March 2025.
Acquisition Details
The acquisition was executed in two phases:
- Direct Acquisition: 7,914 shares were acquired directly by Senores Pharmaceuticals.
- Subsidiary Acquisition: The remaining 540 shares were acquired through Senores Pharmaceuticals Inc., the company’s wholly-owned US subsidiary.
This phased approach was necessitated by regulatory requirements from the Reserve Bank of India (RBI), which required specific approvals for acquiring shares through a foreign subsidiary.
Timeline of Events
- March 11–12, 2025: Initial intimations regarding the planned acquisition from certain public shareholders of Havix Group Inc.
- April 22 and June 23, 2025: Updates indicated that 7,914 shares had been acquired, with 540 shares pending RBI approval.
- September 12, 2025: Completion of the transaction confirmed with the acquisition of the remaining 540 shares.
Management Statement
Vinay Kumar Mishra, Company Secretary and Compliance Officer of Senores Pharmaceuticals, confirmed the completion, stating:
“Upon acquisition of said 540 equity shares, the transaction for 8,454 equity shares stands completed.”
Strategic Significance
This acquisition strengthens Senores Pharmaceuticals’ presence in the pharmaceutical sector and enhances its product portfolio and market reach through integration with Aavis Pharmaceuticals. The company continues to focus on expanding its footprint both domestically and internationally.
Summary
- Senores Pharmaceuticals completed acquisition of 8,454 Havix Group Inc. shares.
- Acquisition executed in two phases due to RBI regulatory requirements.
- Strengthens the company’s pharmaceutical portfolio and market presence.
Disclaimer:
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