Sequent Scientific shines after terminating share purchase agreement with Tineta
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Sequent Scientific is currently trading at Rs. 73.63, up by 11.25 points or 18.03% from its previous closing of Rs. 62.38 on the BSE.
The scrip opened at Rs. 62.84 and has touched a high and low of Rs. 74.70 and Rs. 62.84 respectively. So far 1472066 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 155.90 on 06-Apr-2022 and a 52 week low of Rs. 61.80 on 08-Mar-2023.
Last one week high and low of the scrip stood at Rs. 74.70 and Rs. 61.80 respectively. The current market cap of the company is Rs. 1786.19 crore.
The promoters holding in the company stood at 52.79%, while Institutions and Non-Institutions held 9.06% and 38.15% respectively.
Sequent Scientific has terminated Share Purchase Agreement with Tineta Pharma (Tineta) and its Promoters, regarding acquisition of 100% stake in Tineta by the Company. The transaction contemplated under the Share Purchase Agreement has not been materialized. Therefore, the Company will not acquire Tineta.
Earlier, Sequent Scientific had received an approval for acquisition of 100% stake in Tineta Pharma from its existing shareholders for a consideration to be discharged partly by cash and partly by issuance of equity shares of the Company through preferential allotment route.
Sequent Scientific is an integrated pharmaceutical company with a global footprint headquartered in Bangalore, India which has presence in different pharmaceutical verticals including APIs, Animal Health, Analytical Services, CRAMS and specialty chemicals. Sequent is the world's largest producer of Anthelmintics and by far the strongest player in the Veterinary API business.
