M&A

M&A

Carlyle-backed Sequent Scientific, Viyash Life Sciences in Rs.8,000-Cr merger

Economic Times  

Mumbai-based Sequent Scientific and Hyderabad-based Viyash Life Sciences have announced an INR 8,000 crore merger. Sequent is listed and Viyash is unlisted. Private Equity firm Carlyle is a shareholder in both companies.Sequent is in the animal health business. It posted revenues of around INR 1400 crore in FY 2023-24 and EBITDA of around INR 100 crore.Viyash is a manufacturer of active pharmaceutical ingredients and formulations for drugs for human consumption. It has ten manufacturing plants including one in New Jersey, US. The company notched up an EBITDA of around INR 150 crore for FY 2023-24.Each shareholder of Viyash Life Sciences will receive 56 equity shares of Sequent Scientific for every 100 equity shares of Viyash held by them. This will result in the capital base of Sequent Scientific expanding from the present 24,94,80,995 shares to 42,89,38,532 shares. The promoter and promoter group’s shareholding will be around 62.4% in the combined entity.