Biocon has set the price band for an initial public offering of its clinical research services arm, Syngene International, at Rs 240-250 a share. Syngene’s IPO shall open for subscription on July 27 and close on July 29.
Earlier in June, Syngene received the Foreign Investment Promotion Board (FIPB) approval for raising foreign investment in the company to 44 per cent from the earlier approved 10 per cent. The equity shares of Syngene are proposed to be listed on BSE and the National Stock Exchange (NSE).
