Shasun plans to sell unit subject to approval by shareholders

Shasun Pharmaceuticals today said its plans to sell Andhra Pradesh unit are subject to

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approval of the company's shareholders.

At the company's board meeting it was decided to sell or transfer the company's unit situated at J N Pharma City, Vishakapatnam, Andhra Pradesh, to a joint venture or any other person as the board may consider appropriate decision subject to the approval of shareholders, the city-based company said in a BSE filing.

The board has decided to obtain shareholders approval by way of "postal ballot", it said.

Shares of the company were trading at Rs 78.40 apiece up by 0.51% over previous close in afternoon BSE.

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