Sequent Scientific picks up 5.8% stake in Shasun Pharma

Sequent Scientific Ltd has picked up 35,00,000 equity shares in Shasun Pharmaceuticals Ltd through preferential allotment mode, for around Rs 38.5 crore.

With this, the Bangalore-based company would have 5.82% share in Shasun Pharmaceuticals' total equity shares. The allotment was made on May 30, 2014.

According to earlier reports, Sequent Scientific, which has launched a joint venture firm with Shasun Pharma some time back, has been planning to pick up a minority stake of around 16% in the company with an investment of around Rs 116 crore.