SeQuent–Viyash merger clears key hurdle with Stock Exchange approvals

SeQuent Scientific Ltd., a leading global player in animal health, has received approvals from both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) for its proposed merger with Hyderabad-based Viyash Life Sciences. With these clearances in hand, the company has moved swiftly to file for final approval with the National Company Law Tribunal (NCLT).

The merger is set to create a formidable entity by combining SeQuent’s global animal health platform with Viyash’s integrated API and R&D capabilities. The combined operations will extend reach across over 150 countries, backed by a five-fold increase in R&D talent and a nine-fold jump in USFDA-approved manufacturing capacity.

The transaction is strategically significant for Carlyle, the US-based private equity major which holds a 53% stake in SeQuent and is also the majority shareholder in Viyash. While SeQuent boasts a footprint in 90+ countries with strongholds in Europe, Latin America, and India, Viyash has carved out a niche in the global API and R&D space.

“We are pleased that our proposed merger with Viyash Life Sciences is progressing as planned,” said Rajaram Narayanan, Managing Director of SeQuent Scientific. “With this merger, we are poised to double our scale, capabilities, and growth opportunities.”

SeQuent ended FY25 on a strong note, with Q4 revenue up 11.2% YoY at Rs 4,017 million and adjusted EBITDA rising 38.7% to Rs 569 million. For the full fiscal year, revenue grew 13.3% to Rs 15,514 million while adjusted EBITDA surged 86.6% to Rs 1,993 million. Margins improved sharply to 12.8%, driven by operational efficiencies and a refined product mix.

On a pro forma basis, the combined SeQuent-Viyash entity posted consolidated Q4 revenues of Rs 7,725 million—up 13.2%—and adjusted EBITDA of Rs 1,222 million, marking a 63.2% jump. Margins expanded to 15.8%, reflecting strong synergy and strategic alignment.

As per the merger terms, Viyash shareholders will receive 56 SeQuent shares for every 100 shares held, marking the next step in a transformative journey for both companies.