Sequent Scientific Ltd. (BSE:512529) agreed to acquire 51.02% stake in Indo Phyto Chemicals Pvt Ltd. for INR 68.5 million on January 22, 2016. As per the terms of the transaction, the remaining 48.8% will continue to be held by the promoters of Indophyto Chemicals who will also join Sequent management. Indo Phyto Chemicals had turnover of INR 675 million in the financial year 2014-15.

The transaction is subject to customary closing conditions. The transaction is expected to be completed by March 31, 2016. Ankita Gupta of Christensen Investor Relations acted as PR advisor to Sequent Scientific Ltd. Bharat Anand, Tanvi Kumar and Vrinda Agarwal of Khaitan & Co.

acted as legal advisor for Indo Phyto Chemicals. Simone Reis of Nishith Desai Associates acted as legal advisor for Sequent.