Advent International will acquire a 50.1 per cent stake in Suven Pharmaceuticals from the Jasti family, promoters of the company, for Rs 6,313 crore. The buyout is part of the private equity firm’s plan to create a contract drug manufacturing powerhouse in India.

The promoter Jasti family will hold only 9.9 per cent stake in the firm if the deal goes through. The deal would be subject to regulatory approvals and conditions. 

Venkateswarlu Jasti , MD, Suven Pharma said the deal was expected to be closed in five to six months and the details of the proposed merger with Cohance were still being worked out, including what could be the share swap ratio.

Advent intends to explore the merger of Cohance with Suven to build a leading end-to-end CDMO and merchant API (active pharmaceutical ingredients) player servicing the pharma and speciality chemicals markets.