Sun Pharma invests in ABD Technologies LLP

Sun Pharmaceutical Industries Limited has subscribed to partnership interest in ABCD Technologies LLP (to be renamed as IndoHealth Services LLP).

The Target entity is a recently incorporated limited liability partnership ('LLP') and has not commenced any business activities.

The objects and effects of acquisition is initiative with an objective to facilitate, enable and promote efficiency and Good Distribution Practices ('GDP') including digitizing healthcare infrastructure in India, in support of the National Digital Health Mission of Government of India ('Business'). The proposed LLP structure would ensure transparent and effective competition to the benefit of patients in India.

The consideration to be paid is INR 40 crores through cash infusion as capital contribution.

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.577.35 as compared to the previous close of Rs. 584.9. The total number of shares traded during the day was 109613 in over 2926 trades.

The stock hit an intraday high of Rs. 587.8 and intraday low of 572. The net turnover during the day was Rs. 63386305.

Source : Equity Bulls

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