Sequent Scientific has entered into a Business transfer agreement with Solara Active Pharma Sciences to acquire the EU-GMP API facility at Mahad (Mahad facility). The total consideration for the unit would be Rs 464 million on an Enterprise Valuation basis.

The acquired Mahad facility compliments the company's current manufacturing at Vizag (USFDA approved) and Tarapur (Intermediates).

The stock had outperformed the market over the past one month till Sep. 21, 2018, rising 38.20% compared with the Sensex's 3.77% decline. It outperformed the market in past one quarter, gaining 10.97% as against 3.98% rise in the Sensex.

Shares of the company gained Rs 1.15, or 1.87%, to trade at Rs 62.75. The total volume of shares traded was 18,488 at the BSE (9.40 a.m., Monday).