Sun Pharma arm to acquire stake in WRS Bioproducts Pty Ltd, Australia

Sun Pharmaceutical Industries Limited has announced that one of the wholly owned subsidiaries of the Company has agreed to acquire by way of allotment to it, 428,571 ordinary shares (equivalent to 12.5% fully diluted equity stake) of WRS Bioproducts Pty Ltd, Australia, a company that is developing novel technologies to produce and commercialize supplements and nutraceutical ingredients from diverse algae species in Australia.

The consideration to be paid will be AUD 2.0 Mn for 12.5% stake (on fully diluted basis).

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.618.65 as compared to the previous close of Rs. 624.15. The total number of shares traded during the day was 1028441 in over 7298 trades.

The stock hit an intraday high of Rs. 636.45 and intraday low of 615.65. The net turnover during the day was Rs. 642679596.

Source : Equity Bulls

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