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    • Biocon sells 1.88...

    Biocon sells 1.88 percent stake in Syngene for Rs 230 crore

    By Ruby Khatun KhatunPublished On 2018-05-19T11:00:53+05:30  |  Updated On 2021-08-16T16:16:25+05:30

    New Delhi: Biocon Ltd has sold close to 2% stake in its research arm Syngene International for an estimated Rs230 crore.


    "Biocon, the promoter of Syngene International, on 16 May 2018 has sold 37,65,574 equity shares amounting to 1.88% of the equity share capital of Syngene through open market sale," Biocon said in a regulatory filing.


    In a separate filing, Syngene said Biocon has sold the shares for achieving minimum public shareholding requirement.


    Based on average weighted price of Syngene's shares on 16 May at Rs611.02 apiece, the transaction is estimated at Rs230.08 crore. Post-transaction, stake of promoter and promoter group in the company stands at 72.57%. Public shareholding is 25.90%.

    Biocon equity shares open market sale sells stake Syngene Syngene International 
    Source : PTI

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    Ruby Khatun Khatun
    Ruby Khatun Khatun
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