Suven Life Sciences Ltd. — Capital/Financing Update 2026

May 14, 2026

S

SUVEN

Life Sciences

CSD/BM/SE/2026-27

Date: May 14, 2026

To

Department of Corporate Services

BSE Limited

25th Floor, P. J. Towers,

Dalal Street, Mumbai - 400 001

Scrip Code: 530239

To

Listing Department

National Stock Exchange of India Limited

Exchange Plaza, Bandra Kurla Complex

Bandra (E), Mumbai – 400 051

Scrip Symbol: SUVEN

Dear Sir/Madam,

Sub: Monitoring Agency Report for the quarter ended March 31, 2026

Pursuant to Regulation 162A of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2018 and Regulation 32 (6) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Monitoring Agency (MA) Report issued by CRISIL Ratings Limited for the quarter ended March 31, 2026, regarding utilization of proceeds of the Preferential Issue of the Company.

This is for your information and records.

Thanking you.

Yours faithfully,

For Suven Life Sciences Limited

Kandari

Sangeetha

Laxmi

Digitally signed by

Kandari Sangeetha

Laxmi

Date: 2026.05.14

11:50:28 +05'30'

K. Sangeetha Laxmi

Company Secretary and Compliance officer

Encl: as above

Suven Life Sciences Limited

Registered Office: 8-2-334 | SDE Serene Chambers | 6th Floor Road No.5 | Avenue 7

Banjara Hills | Hyderabad – 500 034 | Telangana | India | CIN: L24110TG1989PLC009713

Tel: 91 40 2354 1142/ 1152 Email: info@suven.com website: www.suven.com

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Crisil Ratings

Monitoring Agency Report for Suven Life Sciences Limited for the quarter ended March 31, 2026

Crisil Ratings Limited
Corporate Identity Number: U67100MH2019PLC326247
Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India
Phone: +91 22 6137 3000 | www.crisilratings.com
a company of S&P Global

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Crisil Ratings

CRI/MAR/ARIL/2025-26/1730

May 14, 2026

To

Suven Life Sciences Limited

8-2-334, SDE Serene Chambers Road, Road No. 5,

Avenue 7, Banjara Hills, Hyderabad–500034

Dear Sir,

Monitoring Agency Report for the quarter ended March 31, 2026 - in relation to the Preferential Issue of Suven Life Sciences Limited ("the Company")

Pursuant to Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations") and Monitoring Agency Agreement dated May 15, 2025, enclosed herewith the Monitoring Agency Report, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of Preferential Issue for the quarter ended March 31, 2026.

Request you to kindly take the same on records.

Thanking you,

For and on behalf of Crisil Ratings Limited

Shounak Chakravarty

Director, Ratings (LCG)

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

---

Crisil Ratings

Report of the Monitoring Agency (MA)

Name of the issuer: Suven Life Sciences Limited

For quarter ended: March 31, 2026

Name of the Monitoring Agency: Crisil Ratings Limited

(a) Deviation from the objects: Not applicable
(b) Range of Deviation: Not applicable

Declaration:

We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013.

The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit-related analyses. We confirm that we do not perceive any conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer.

We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title "Comments of the Board of Directors", that shall be captured by the Issuer's Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer's Management/Board.

Signature: Shounak Chakravarty

Name and designation of the Authorized Signatory: Shounak Chakravarty

Designation of Authorized person/Signing Authority: Director, Ratings (LCG)

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

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Crisil Ratings

1) Issuer Details:

Name of the issuer: Suven Life Sciences Limited

Names of the promoter: a. Venkateswarlu Jasti
b. Sudharani Jasti

Industry/sector to which it belongs: Pharmaceuticals

2) Issue Details

Issue Period: June 21, 2025 to June 30, 2025

Type of issue (public/rights): Preferential Issue

Type of specified securities: Convertible Warrants

Grading, if any: NA

Issue size: Rs 85,764.02 lakhs*
Preferential Issue size comprises of convertible warrants of Rs 85,764.02 lakhs. (Refer Note1)

*Crisil Ratings shall be monitoring the issue proceeds amount.

Note 1: Out of the issue proceeds of Rs 85,764.02 lakhs, Rs 9,331.50 lakhs is yet to be received from the warrant holders. As per the notice to shareholders dated May 13, 2025, the warrant holders have the option to convert the warrants into equity shares within 18 months from the date of allotment of the share warrants, i.e., by December 2026.

3) Details of the arrangement made to ensure the monitoring of issue proceeds:

Particulars	Reply	Source of information/ certifications considered by Monitoring Agency for preparation of report	Comments of the Monitoring Agency	Comments of the Board of Directors
Whether all utilization is as per the disclosures in the Offer Document?	Yes	Management undertaking, Statutory Auditor Certificate^, Notice to shareholders dated May 14th, 2025, Corrigendum to notice dated 28th May 2025, Bank Statements	Proceeds were utilized towards objects disclosed in the notice to shareholders dated May 14th, 2025.	No Comments

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

---

Crisil Ratings

Whether shareholder approval has been obtained in case of material deviations from expenditures disclosed in the Offer Document?	NA	Management undertaking, Statutory Auditor Certificate^	No Comments	No Comments
Whether the means of finance for the disclosed objects of the issue has changed?	NA		No Comments	No Comments
Is there any major deviation observed over the earlier monitoring agency reports?	NA		No Comments	No Comments
Whether all Government/statutory approvals related to the object(s) have been obtained?	NA		No Comments	No Comments
Whether all arrangements pertaining to technical assistance/collaboration are in operation?	NA		No Comments	No Comments
Are there any favorable events improving the viability of these object(s)?	No		No Comments	No Comments
Are there any unfavorable events affecting the viability of the object(s)?	No		No Comments	No Comments
Is there any other relevant information that may materially affect the decision making of the investors?	No		No Comments	No Comments

NA represents Not Applicable

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

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Crisil Ratings

4) Details of object(s) to be monitored:

i. Cost of the object(s):

Sr. No.	Item Head	Source of information/ certification considered by MA for preparation of report	Original cost (as per the Offer Document) (Rs in lakhs)	Revised Cost (Rs in lakhs)	Comment of the MA	Comments of the Board of Directors
						Reason of Cost revision	Proposed financing option	Particulars of firm arrangements made
1(a)	Expenses towards the conduct of clinical development of molecules in research pipeline through Suven Neurosciences, Inc. an overseas wholly owned subsidiary of the Company.	Management undertaking, Statutory Auditor Certificate^, Notice to Shareholders dated May 14, 2025 & Corrigendum to notice dated 28th May 2025	40,000.00	NA	No revision	No Comments	No Comments	No Comments
1(b)	Expenses towards Drug Discovery Research & Development (R&D)		13,000.00	NA	No revision	No Comments	No Comments	No Comments
1(c)	Expenses towards new R&D Centre with all requisite infrastructure and equipments (CAPEX)		20,000.00	NA	No revision	No Comments	No Comments	No Comments
2	Expenses towards General corporate purposes (GCP)*		12,764.02	NA	No revision	No Comments	No Comments	No Comments
	Total	-	85,764.02	-	-	-	-	-

^Based on Certificate dated April 21, 2026, issued by M/s Karvy & Co., Chartered Accountants (Firm Registration Number:001757S), Statutory Auditors of the Company.
*The amount utilised for general corporate purposes does not exceed 15% (Rs 12,864.60 lakhs) of the issue proceeds.

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

---

Crisil Ratings

ii. Progress in the object(s):

Sr. No.	Item Head	Source of information/ certifications considered by Monitoring Agency for preparation of report	Amount as proposed in the Offer Document (Rs in lakhs)	Amount utilized (Rs in lakhs)			Total unutilized amount (Rs in lakhs)	Comments of the Monitoring Agency	Comments of the Board of Directors
				As at beginning of the quarter	During the quarter	At the end of the quarter			Reasons for idle funds	Proposed course of action
1(a)	Expenses towards the conduct of clinical development of molecules in research pipeline through Suven Neurosciences, Inc. an overseas wholly owned subsidiary of the Company.	Management undertaking, Statutory Auditor Certificate^, Final Offer Document, Bank Statements	40,000.00	12,895.95	5,982.69	18,878.64	21,121.36	Refer note 2 & 3	No Comments	No Comments
1(b)	Expenses towards Drug Discovery Research & Development (R&D)		13,000.00	2,671.37	1,368.62	4,039.99	8,960.01		No Comments	No Comments
1(c)	Expenses towards new R&D Centre with all requisite infrastructure and equipments (CAPEX)		20,000.00	189.98	108.73	298.72	19,701.28		No Comments	No Comments
2	Expenses towards General corporate purposes (GCP)		12,764.02	2,304.93	546.36	2,851.29	9,912.73		No Comments	No Comments
	Total		85,764.02	18,062.24	8,006.40	26,068.64	59,695.38		-	-

^Based on Certificate dated April 21, 2026, issued by M/s Karvy & Co., Chartered Accountants (Firm Registration Number:001757S), Statutory Auditors of the Company.

Note 2: All figures in the above table are rounded off to nearest two decimal places.

Note 3: The company has transferred Rs 19,568.75 lakhs from its monitoring account to its wholly owned subsidiary's current account for utilization towards the objects of the issue for operational ease.

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

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Crisil Ratings

iii. Deployment of unutilised proceeds:

Based on management undertaking and Certificate dated April 21, 2026, issued by M/s Karvy & Co., Chartered Accountants (Firm Registration Number:001757S), Statutory Auditors of the company:

Sr. No	Type of instrument and name of the entity invested in	Amount invested (Rs in lakhs)	Maturity date	Earnings (Rs in lakhs)	Return on investment (%)	Market Value as at 31-Dec-2025 (Rs in lakhs)
1	HDFC CRISIL-IBX Fin Services 3-6 Months Debt Index Fund	4,500.00	NA	110.56	6.30	4,610.56
2	Nippon India Crisil-IBX Financial services 9-12 months Debt Index Fund	1,000.00	NA	3.47	4.50	1,003.47
3	Tata Money Market Fund	1,544.79	NA	66.75	5.90	1,611.54
4	UTI Money Market Fund	1,300.84	NA	55.03	5.80	1,355.87
5	Axis Money Market Fund	1,104.48	NA	47.24	5.90	1,151.72
6	ICICI Prudential Crisil IBX Financial services 3-6 months debt Index Fund	3,000.00	NA	39.76	6.40	3,039.76
7	Nippon India Crisil-IBX Financial services 3-6 months Debt Index Fund	1,416.10	NA	5.17	7.20	1,421.27
8	Bandhan Money Market Fund	3,754.73	NA	46.38	5.60	3,801.11
9	Fixed Deposit/ SBI-6363	2,500.00	4-Jan-27	42.97	6.80	2,542.97
10	Fixed Deposit/ SBI-7505	2,500.00	4-Jan-27	42.97	6.80	2,542.97
11	Fixed Deposit/ SBI-7686	2,500.00	4-Jan-27	42.97	6.80	2,542.97
12	Fixed Deposit/ SBI-6303	2,500.00	4-Jan-27	42.97	6.80	2,542.97
13	Fixed Deposit/ SBI-5356	2,500.00	4-Jan-27	42.97	6.80	2,542.97
14	Fixed Deposit/ SBI-4333	2,500.00	4-Jan-27	42.97	6.80	2,542.97
15	Fixed Deposit/ SBI-8575	2,500.00	4-Jan-27	42.97	6.80	2,542.97
16	Fixed Deposit/ SBI-5500	2,500.00	24-Feb-27	17.19	6.80	2,517.19
17	Fixed Deposit/ SBI-7289	2,500.00	24-Feb-27	17.19	6.80	2,517.19
18	Fixed Deposit/ SBI-7487	2,500.00	24-Feb-27	17.19	6.80	2,517.19
19	Fixed Deposit/ SBI-4825	2,500.00	24-Feb-27	17.19	6.80	2,517.19
20	Fixed Deposit/ SBI-7973	2,500.00	24-Feb-27	17.19	6.80	2,517.19
21	Fixed Deposit/ SBI-2165	2,500.00	24-Feb-27	17.19	6.80	2,517.19
22	Balance in Monitoring account/ ICICI Bank- 005	155.97	-	-	-	155.97
23	WOS Current account/ DBS Bank- 0147	489.32	-	-	-	489.32
24	WOS Current account/ CHASE Bank- 0030	94.01	-	-	-	94.01
	Total (Refer Note 4)	50,860.24		778.29		51,638.53

Note 4: Out of the balance of the Rs. 50,860.24 lakhs, Rs 50,363.89 lakhs pertains to net proceeds and the remaining Rs. 496.35 lakhs pertain to gain on mutual funds.

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

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Crisil Ratings

Note 5: Out of the issue proceeds of Rs 85,764.02 lakhs, Rs 9,331.50 lakhs is yet to be received from the warrant holders. As per the notice to shareholders dated May 13, 2025, the warrant holders have the option to convert the warrants into equity shares within 18 months from the date of allotment of the share warrants, i.e., by December 2026.

Note 6: All figures in the above table are rounded off to nearest two decimal places.

Note 7: Monitoring the deployment of interest income earned or gain on sale of mutual funds from unutilised proceeds does not form part of the scope of Monitoring Agency report.

Note 8: The Company has not created lien of any nature during the interim use of proceeds.

iv. Delay in implementation of the object(s)^:

^On the basis of management undertaking and Certificate dated April 21, 2026, issued by M/s Karvy & Co., Chartered Accountants (Firm Registration Number: 001757S), Statutory Auditors of the Company.

Object(s)	Completion Date		Delay (no. of days/ months)	Comments of the Board of Directors
	As per the Offer Document	Actual		Reason of delay	Proposed course of Action
Not applicable

5) Details of utilization of proceeds stated as General Corporate Purpose amount in the offer document:

Based on management undertaking and Certificate dated April 21, 2026, issued by M/s Karvy & Co., Chartered Accountants (Firm Registration Number: 001757S), Statutory Auditors of the company:

S. No:	Item heads	Amount (Rs in lakhs)	Remarks
1	Expenses incurred in ordinary courses of business	546.36	The Board of Directors of the Company vide resolution dated May 14, 2026, has ratified and approved the utilization of proceeds for payments under GCP for the mentioned sub-category

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

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Crisil Ratings

Disclaimers:

a) This Report is prepared by Crisil Ratings Limited (hereinafter referred to as "Monitoring Agency" / "MA" / "CRL"). The MA has taken utmost care to ensure accuracy and objectivity while developing this Report based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever.

b) This Report has to be seen in its entirety; the selective review of portions of the Report may lead to inaccurate assessments. For the purpose of this Report, MA has relied upon the information provided by the management /officials/ consultants of the Issuer and third-party sources like statutory auditors (or from peer reviewed CA firms) appointed by the Issuer believed by it to be accurate and reliable.

c) Nothing contained in this Report is capable or intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The MA is also not responsible for any errors in transmission and specifically states that it, or its directors, employees do not have any financial liabilities whatsoever to the users of this Report.

d) The MA and its affiliates do not act as a fiduciary. The MA and its affiliates also do not act as an expert to the extent defined under Section 2(38) of the Companies Act, 2013. While the MA has obtained information from sources it believes to be reliable, it does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives from auditors (or from peer reviewed CA firms), lawyers, chartered engineers or other experts, and relies on in its reports.

e) The MA or its affiliates may have other commercial transactions with the entity to which the report pertains. As an example, the MA may rate the issuer or any debt instruments / facilities issued or proposed to be issued by the issuer that is subject matter of this report. The MA may receive separate compensation for its ratings and certain credit-related analyses, normally from issuers or underwriters of the instruments, facilities, securities or from obligors.

f) The MA report is intended for the jurisdiction of India only. This report does not constitute an offer of services. Without limiting the generality of the foregoing, nothing in the report is to be construed as CRL providing or intending to provide any services in jurisdictions outside India, where it does not have the necessary licenses and/or registration to carry out its business activities referred to above.

g) Access or use of this report does not create a client relationship between CRL and the user.

h) CRL is not aware that any user intends to rely on the report or of the manner in which a user intends to use the report. In preparing this report, MA has not taken into consideration the objectives or particular needs of any particular user.

i) It is made abundantly clear that the report is not intended to and does not constitute an investment advice. The report is not an offer to sell or an offer to purchase or subscribe for any investment in any securities, instruments, facilities or solicitation of any kind to enter into any deal or transaction with the entity to which the report pertains. The report should not be a basis for any investment decision within the meaning of any law or regulation (including the laws and regulations applicable in the US).

j) The report comprises professional opinion of CRL as of the date they are expressed, based on the information received from the issuer and other sources considered reliable by CRL. Any opinions expressed here are in good faith, are subject to change without notice, and are only current as of the stated date of their issue. The report does not constitute statements of fact or recommendations to purchase, hold or sell any securities/instruments or to make any investment decisions.

k) Neither CRL nor its affiliates, third-party providers, as well as their directors, officers, shareholders, employees or agents guarantee the accuracy, completeness or adequacy of the report, and shall not have any liability for any errors, omissions or interruptions therein, regardless of the cause, or for the results obtained from the use of any part of the report. CRL and each aforesaid party disclaims any and all express or implied warranties, including but not limited to any warranties of merchantability, suitability or fitness for a particular purpose or use or use. In no event shall CRL or any aforesaid party be liable to any user for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of any part of the report even if advised of the possibility of such damages.

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global

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Crisil Ratings

l) CRL has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with the preparation of this report. CRL has in place a code of conduct and policies for managing conflict of interest.

m) Unless required under any applicable law, this report should not be reproduced or redistributed to any other person or in any form without prior written consent from CRL.

n) By accepting a copy of this Report, the recipient accepts the terms of this Disclaimer, which forms an integral part of this Report.

Crisil Ratings Limited

Corporate Identity Number: U67100MH2019PLC326247

Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India

Phone: +91 22 6137 3000 | www.crisilratings.com

a company of S&P Global