Solara Active Pharma Sciences Limited has entered into a Business transfer agreement with SeQuent Scientific Limited for sale of API facility at Mahad, India. The total consideration for the unit would be INR 464 Mn.
At consolidated level, Mahad unit contributed turnover: Rs 394.40 Mn (7.01%) and Networth: Rs 433.52 Mn (5.67%).
The Company has decided to hive-off Mahad unit as it is not aligned to multi product and US focussed business of the Company.
Shares of SEQUENT SCIENTIFIC LTD. was last trading in BSE at Rs.61.85 as compared to the previous close of Rs. 66.75. The total number of shares traded during the day was 127332 in over 1250 trades.
The stock hit an intraday high of Rs. 69 and intraday low of 60.1. The net turnover during the day was Rs. 8133673.