Sequent Scientific has received board's approval for investment of up to Rs 150 crore in the equity capital/ convertible warrants of Shasun Pharmaceuticals. The investment is subject to statutory and other approvals, as may be applicable, including approval of shareholders under section 186 of the Companies Act, 2013.
The board also approved to increase the authorized capital of the company from Rs 32 crore to Rs 40 crore by addition of 8,000,000 equity shares of Rs 10 each and related amendments to Memorandum of Association and Articles of Association of the company.
Sequent Scientific is an integrated pharmaceutical company with a global footprint headquartered in Bangalore, India which has presence in different pharmaceutical verticals including APIs, Animal Health, Analytical Services, CRAMS and specialty chemicals. Sequent is the world's largest producer of Anthelmintics and by far the strongest player in the Veterinary API business.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1870.90 |
| Dr. Reddys Lab | 1273.50 |
| Cipla | 1301.00 |
| Zydus Lifesciences | 945.80 |
| Lupin | 2242.70 |
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