Sun Pharmaceutical Industries' one of the wholly owned subsidiaries (collectively Sun Pharma) has agreed to acquire by way of allotment to it, 203,135 Series A Preferred Stock (equivalent to 15.91% fully diluted equity stake on conversion) of Krystal Biotech Inc., United States of America, a biopharmaceutical company using gene therapy to develop treatments for patients suffering from rare debilitating disorders.

The cash consideration amounting to USD 7 million would be paid for acquisition of shares.

Total volume of shares traded on the bourses today was lower by 21.00% to 2,794,716 compared with 22-day average volume of 3,537,546.

Shares of the company declined Rs 12.45, or 2.49%, to trade at Rs 487.95. The total volume of shares traded was 287,917 at the BSE (9.49 a.m., Wednesday).