Shasun plans to sell unit subject to approval by shareholders

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


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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