Tavexia Lifecare to acquire 60 per cent stake in Meyonex Pharmaceuticals for Rs 67.19 crore

Tavexia Lifecare Ltd has approved the acquisition of a 60 per cent controlling stake in Meyonex Pharmaceuticals Ltd through a cash subscription of Rs 67.19 crore, advancing its planned entry into pharmaceutical manufacturing, formulations and contract development services.

The board has approved the subscription to 2,09,97,180 fresh equity shares of Meyonex at an issue price of Rs 32 per share. The transaction will give Tavexia control of Meyonex, which has manufacturing and commercial operations at MIDC Tarapur in Maharashtra, according to the company’s October 12 disclosure.

For Tavexia, the transaction represents a sizeable capital commitment relative to its existing business. Its consolidated revenue from operations stood at Rs 32.25 crore in FY2025-26, making the proposed investment roughly 2.1 times its annual revenue. The company reported a consolidated profit after Tax of Rs 21.17 lakh for the year, despite revenue rising sharply from Rs 5.26 crore in FY2024-25.

The acquisition therefore materially changes the scale and direction of the company’s stated strategy. Tavexia, formerly known as Sattva Sukun Lifecare Ltd, had identified the manufacturing and trading of burners as its principal activity in its FY2025-26 annual disclosures. It has now amended the main object clause of its Memorandum of Association to cover active pharmaceutical ingredients, bulk drugs, finished formulations, nutraceuticals and biotechnology.

The expanded object clause also includes contract research and manufacturing services, as well as contract development and manufacturing organisation services. Tavexia said it intends to address domestic and international demand through the CRAMS and CDMO businesses, although it did not provide revenue targets, capacity details or timelines for these operations.

Management said Meyonex would provide access to pharmaceutical product lines and an immediate platform for revenue expansion and operating efficiencies. However, the disclosure does not specify Meyonex’s turnover, profitability, product portfolio, manufacturing capacity or the financial contribution expected after consolidation.

The company had previously begun widening its business footprint through trading. In FY2025-26, it acquired a 51 per cent interest in Pavapuri Exports Pvt Ltd for about Rs 10 crore, funded from rights issue proceeds. Tavexia had raised Rs 19.16 crore through a rights issue during that year, primarily for working capital and general corporate purposes.

To support the Meyonex transaction and broader expansion plans, Tavexia said it has initiated proposals to raise funds through permissible equity or convertible instruments. Any such fund raising could be important because the company ended FY2025-26 with cash and cash equivalents of Rs 1.41 crore, while its balance sheet also carried substantial supplier advances and trade payables linked to its expanding trading activity.

At 3:53 pm on October 12, 2026, Tavexia shares were trading at Rs 1.18, down 0.84 per cent from the previous close. The stock was about 1.7 per cent below its 52-week high of Rs 1.20 and had gained 48.75 per cent over the preceding year, compared with a 6.29 per cent decline in the BSE 500.

The next key milestones will be completion of the share subscription, integration of Meyonex’s operations and clarity on the proposed financing structure as Tavexia seeks to build a pharmaceutical business alongside its legacy activities.

Disclaimer: The article is for informational purposes only and not investment advice.