The Government has approved the FDI proposal for foreign investment of up to nine thousand 589 crore rupees in Suven Pharmaceuticals Limited by Berhyanda Limited, Cyprus. The proposal was approved by the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi today.

The approval is for the acquisition of up to 76.1 per cent equity shares of Suven Pharmaceuticals Limited. The approval has been granted after examination of the proposal by the Departments concerned, RBI and SEBI. The approved investment aims to generate new jobs and capacity expansion of the Indian company through investments in plant and equipment.