The wholly owned subsidiary of Sun Pharmaceutical Industries Limited, has increased its shareholding in PJSC Biosintez, Russia, by way of purchase of 33958 shares (30221 ordinary shares and 3737 preferred shares) equivalent to 11.86% of PJSC Biosintez under Mandatory Tender Offer.
Post completion of this purchase of shares, the total holding of wholly owned subsidiary company was increased from 85.10% to 96.96% in PJSC Biosintez.
The consideration paid to the shares are acquired is Rubles 21,158,211,060 equivalent to USD 3,217,000.3.
PJSC Biosintez, Russia is mainly engaged in the manufacture and marketing of pharmaceutical products used in the hospital segment of the market. The company's products include pharmaceuticals for injections, blood substitutes, blood preservatives, ampoules, tablets, ointment, creams, gels, suppositories, API etc. The Target Entity has presence in Russia and CIS countries.
Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.456.1 as compared to the previous close of Rs. 470.1. The total number of shares traded during the day was 447223 in over 5344 trades.
The stock hit an intraday high of Rs. 475 and intraday low of 452.65. The net turnover during the day was Rs. 208076889.