Sequent Scientific Limited (BSE:512529) agreed to acquire Tineta Pharma Private Limited from group of shareholders for INR 2.18 billion on November 7, 2022. The shareholders include Vipin V Chandan, Anjula V Chandan, Vipin Chandan HUF,Shreekant Inamdar, Neela S Inamdar, Shreekant Inamdar HUF, Pradeep V Verma, Nandini Verma and Pradeep Verma HUF. The consideration will be paid partly by cash consideration of INR 1.53 billion and partly by issuance of equity shares of the Company through preferential allotment route. Consequent to acquisition, Tineta will become a wholly owned subsidiary of SeQuent Scientific Ltd. Tineta Pharma Private Limited reported turnover of INR 810.4 million in FY 2021-22. Post the transaction closing Vipin Chandan will work with SeQuent team to transition and support the business integration. The transaction is expected to complete on Q4FY 2022-23. KFin Technologies Limited acted as transfer agent and National Securities Depository Limited acted as depository bank for Sequent Scientific Limited.

Sequent Scientific Limited (BSE:512529) cancelled the acquisition of Tineta Pharma Private Limited from group of shareholders on March 8, 2023.