Sequent Scientific has raised Rs 400 crore by issuing equity shares through Qualified Institutional Placement (QIP). The company has issued 7,476,635 equity shares at Rs 535 per share, aggregating to Rs 400 crore.
The company will utilize QIP proceeds to meet its long-term funding requirements, including investments in R&D, new markets, capital expenditure and to meet general business requirements.
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.
