Zydus Lifesciences Limited has extinguished 87,30,158 equity shares bought back at a price of ₹1,260 per share, reducing its issued, subscribed, and fully paid-up share capital to 99,75,03,832 equity shares. The extinguishment was completed on June 18, 2026, in compliance with Regulation 11 of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018. The buyback, which was fully subscribed, utilized an aggregate amount not exceeding ₹1,100 crore. Following the extinguishment, the company disclosed the acceptance of shares tendered by promoters and key managerial personnel under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Share Capital Reconciliation

The reconciliation of the share capital confirms the reduction following the extinguishment process. The company bought back the shares through a tender offer that opened on June 4, 2026, and closed on June 10, 2026.

Shareholding Pattern

The post-buyback shareholding pattern indicates a shift in promoter holding. Promoter and Promoter Group holding increased to 75.01% of the post-buyback equity share capital, up from 74.99% prior to the buyback.

Insider Trading Disclosures

Disclosures filed under SEBI (Prohibition of Insider Trading) Regulations, 2015, detailed the acceptance of shares by promoters, directors, and their relatives. Zydus Family Trust, a promoter entity, tendered 63,49,542 shares, while Pankajbhai Ramanbhai Patel, Promoter and Director, had 124 shares accepted. Sharvil Pankajbhai Patel, Promoter and Managing Director, saw 124 shares accepted. Tushar Dhansukh Shroff, Chief Financial Officer, had 5 shares accepted.

Regulatory Compliance

National Securities Depository Limited confirmed the extinguishment of the shares in dematerialized form on June 18, 2026. A certificate of extinguishment dated June 19, 2026, was issued by the company's Chairman, Managing Director, and Company Secretary, confirming compliance with the Buyback Regulations. The company submitted the public announcement regarding the extinguishment to the exchanges on June 19, 2026.

Zydus Lifesciences Ltd. has completed the acquisition of Assertio Holdings, Inc., making the US-based pharmaceutical entity a wholly owned subsidiary. The transaction was executed through a cash tender offer followed by a merger, securing full control over Assertio at a purchase price of $23.50 per share. As of the tender offer expiration on June 15, 2026, 4,286,488 shares were validly tendered, representing approximately 66.32% of Assertio’s issued and outstanding shares. The merger was consummated on June 16, 2026, with Assertio continuing as the surviving corporation. Following the completion, Assertio's common stock is no longer listed or traded on the Nasdaq Global Market.

Assertio also announced that the consummation of the merger triggered a "Fundamental Change," a "Make-Whole Fundamental Change," and a "Merger Event" for holders of its 6.50% Convertible Senior Notes due 2027. As a result, noteholders have the right to require the company to repurchase their notes for cash on July 17, 2026, at a price equal to 100% of the principal amount plus accrued and unpaid interest. Alternatively, holders may convert their notes into cash at any time until 5:00 p.m. New York City time on July 16, 2026. The conversion consideration is approximately $382.58 in cash per $1,000 principal amount of notes, based on a conversion rate of 16.2799 shares per $1,000 principal amount.

Transaction Details

Notes Repurchase and Conversion

The acquisition was executed through Zydus's wholly-owned subsidiary, Zara Merger Sub Inc., which was incorporated specifically for this transaction. The strategic move aligns with Zydus's objective to expand its global footprint in the specialty pharmaceutical segment. U.S. Bank Trust Company, National Association, serves as the trustee, paying agent, and conversion agent for the notes.