Shasun Pharmaceuticals announced that Ascent Capital Advisors India, a private equity investor has taken a minority stake in Alivira Animal Health.

Alivira Animal Health is a joint venture between the company and Sequent Scientific engaged in developing, manufacturing and sale of veterinary products inclusive of both API (Active Pharmaceuticals Ingredients) and Formulations in the global market.

Shares of the company declined Rs 3.5, or 3.95%, to settle at Rs 85. The total volume of shares traded was 200,675 at the BSE (Wednesday).