Shares of Sun Pharmaceutical Industries rose by more than Rs 23 on the BSE on Tuesday morning and were trading at Rs 762 at about 1:45 pm responding to reports that the company was planning to buy Intas Pharmaceuticals for Rs 15,000 crore.The share had plunged about 4.5% on Monday after it said the US FDA issued a warning letter on its Halol plant in Gujarat after an inspection in September 2014 during which it found possible deviations from good manufacturing practices.If the deal goes through, it will mark the second-biggest acquisition for Sun Pharma after Ranbaxy, which was acquired for $4.5 billion in a stock deal.The proposed deal to acquire Intas Pharmaceuticals will entail a cash outgo of Rs 7,500 crore and the rest by way of stock, DealStreetAsia quoted a source familiar with the development as saying. Ahmedabad-based Intas Pharma manufactures tablets, capsules, parenterals and cytotoxic formulations for the central nervous system (CNS), cardiovascular system, diabetology, gastroenterology, urology, pain management, animal health care, oncology and biotechnology, DealStreetAsia added.Sun Pharma has been acquiring and selling units over the past few weeks. Last week, it sold its manufacturing facility in Ohio, the US, to Nostrum Laboratories and in November this year, it bought American eyecare firm InSite Vision. Sun Pharma did not disclose the deal value for the sale of its Ohio facility, while saying the “financial impact” on the company was “negligible”.The company said it would cooperate with the US FDA for possible remedial measures at its Halol plant. “We will continue to cooperate with the US FDA and undertake any additional steps necessary to ensure that the US Agency is completely satisfied with our remediation of the Halol facility,” said Dilip Sanghvi, managing director, Sun Pharma, in a regulatory filing on 19 December. Meanwhile, Intas Pharmaceuticals is likely to come up with an IPO, having got market regulator Sebi’s nod for it. The IPO will give an opportunity for ChrysCapital to exit partially, after having failed twice, in 2011 and 2013, due to poor market conditions, said DealStreetAsia.