Carlyle portfolio companies Sequent Scientific and Viyash Life Sciences received approval for their planned merger from the National Company Law Tribunal (NCLT) on Tuesday, according to sources in the know.
Sequent Scientific is listed, while Viyash is not.
In the financial year 2023–24, the former had operating profits of around Rs 100 crore, whereas the latter had operating profits of around Rs 150 crore.
The planned Rs 8,000 crore merger of the two companies was announced in September 2024.
Carlyle is a major shareholder in both companies.
Emailed queries to Sequent Scientific and Viyash Life Sciences were not answered until going to press.
The merger was also recently approved by 99.98% of Sequent Scientific’s public shareholders.
Viyash Life Sciences’ founder, Hari Babu Bodepudi, will be the chief executive officer of the combined entities.
He was earlier the global chief operating officer of Mylan, now known as Viatris.
The merger was undertaken to explore back-end synergies between the two companies.
While Sequent Scientific is an animal health company, Viyash Life Sciences makes drugs for human health.
The latter has nine manufacturing sites, several of which are approved by the United States Food and Drug Administration.
Sequent Scientific is listed, while Viyash is not.
In the financial year 2023–24, the former had operating profits of around Rs 100 crore, whereas the latter had operating profits of around Rs 150 crore.
The planned Rs 8,000 crore merger of the two companies was announced in September 2024.
Carlyle is a major shareholder in both companies.
Emailed queries to Sequent Scientific and Viyash Life Sciences were not answered until going to press.
The merger was also recently approved by 99.98% of Sequent Scientific’s public shareholders.
Viyash Life Sciences’ founder, Hari Babu Bodepudi, will be the chief executive officer of the combined entities.
He was earlier the global chief operating officer of Mylan, now known as Viatris.
The merger was undertaken to explore back-end synergies between the two companies.
While Sequent Scientific is an animal health company, Viyash Life Sciences makes drugs for human health.
The latter has nine manufacturing sites, several of which are approved by the United States Food and Drug Administration.
