 "Shasun's veterinary products JV allots equity shares to the company")
Shasun Pharma has earlier entered into a JV agreement with Sequent Scientific, to develop, manufacture and sell veterinary products inclusive of both Active Pharmaceutical Ingredients (API) and formulations in the global market.Shasun Pharma has said that Alivira Animal Health Ltd, a joint venture (JV) company it created in collaboration with Sequent Scientific Ltd, has allotted 74,00,000 equity shares to the company in consideration for the transfer of its Vizag Unit to the JV.
Following this, the company has also announced that it is transferring its Vizag Unit to the JV, to start manufacturing activities.
The company today announced that Alivira has also allotted 21,14,165 shares to Devicam Capital LLP, an enterprise jointly owned by the promoters of Shasun Pharmaceuticals Ltd and Sequent Scientific Ltd, for cash.
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