 "Sequent Scientific hits lifetime high")
Sequent Scientific has soared nearly 14% to Rs 1,189, also its lifetime high on the BSE, after the pharmaceutical firm said it has completed the acquisition of Alivira Animal Health.
Sequent Scientific has allotted 2.83 million equity shares to Ascent for consideration other than cash at a price of Rs 669.10 per equity share, consequent to receipt from Foreign Investment Promotion Board (FIPB) for issue of shares to Unit Trust of India Investment Advisory Services A/C Ascent India Fund III.
The company has acquired 7.89 million equity shares of Alivira from Ascent towards consideration for allotment of 2.83 million equity shares, Sequent Scientific said in a statement.
Pursuant to such acquisition, Alivira Animal Health has become a wholly owned subsidiary of the company, it added.
At 01:08 PM, the stock was up 10% at Rs 1,150 with around 46,000 shares changed hands on the BSE.
Sequent Scientific has allotted 2.83 million equity shares to Ascent for consideration other than cash at a price of Rs 669.10 per equity share, consequent to receipt from Foreign Investment Promotion Board (FIPB) for issue of shares to Unit Trust of India Investment Advisory Services A/C Ascent India Fund III.
The company has acquired 7.89 million equity shares of Alivira from Ascent towards consideration for allotment of 2.83 million equity shares, Sequent Scientific said in a statement.
Pursuant to such acquisition, Alivira Animal Health has become a wholly owned subsidiary of the company, it added.
At 01:08 PM, the stock was up 10% at Rs 1,150 with around 46,000 shares changed hands on the BSE.
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