Sun Pharma to acquire stake in HaystackAnalytics Pvt Ltd

Sun Pharmaceutical Industries Limited (together with its subsidiaries and/or affiliates referred to as "Sun Pharma"), has entered into an agreement with HaystackAnalytics Private Limited ("Haystack"), pursuant to which Sun Pharma has agreed to acquire 9.6% of total outstanding securities.

HaystackAnalytics Private Limited ("Haystack"), a company registered under the Companies Act, 2013, having the corporate identification number ('CIN') U72900MH2018PTC313413 and having its registered office at CM 03, Society for Innovation & Entrepreneurship (SINE), 4th Floor, KReSIT Building, IIT Bombay, Powai, Mumbai - 400076.

HaystackAnalytics is engaged in the business of developing genomic analysis software that enables clinical decision-making through culturefree, comprehensive, and fast clinical genomics by automating bioinformatic analysis to produce clear and clinically relevant reports and utilization of the genomic data and their analysis for creation of new products for healthcare.

The revenue from operations for FY2023 is Rs 3.13 Crore.

The cost of acquisition of the above stake is Rs. 33.00 Crore.

Shares of Sun Pharmaceutical Industries Limited was last trading in BSE at Rs. 1472.95 as compared to the previous close of Rs. 1487.45. The total number of shares traded during the day was 77565 in over 6574 trades.

The stock hit an intraday high of Rs. 1499.95 and intraday low of 1455.40. The net turnover during the day was Rs. 113905739.00.

Source : Equity Bulls

Keywords

SunPharmaceuticalIndustries INE044A01036 StakeAcquisition HaystackAnalytics