Manish Gupta, CEO of Sequent expects the company to grow at 20 percent in next two-three years.
SeQuent Scientific has acquired controlling stake of 51 percent for Rs 6.9 crore in Indo Phyto, a New Delhi-based pharmaceutical company. Remaining 49 percent stake will be retained by the promoters.
Speaking to CNBC-TV18, Manish Gupta, CEO of SeQuent said that the working capital infused in the company will be utilised for product development. The transaction is expected to be completed in the coming few days, he added.
Gupta said that it will take three to five years for Indo Phyto to grow to the next level. The company currently has revenue of Rs 70 crore.
SeQuent has transformed from an API to a formulation company in the veterinary business, Gupta said. He expects the company to grow at 20 percent in the next two-three years. The aim is to make Sequent a Rs 1000-crore topline company by FY17, he said.
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First Published on Jan 28, 2016 11:17 am