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Biocon sells 1.88% stake in Syngene for around Rs 230 crore

18 May 2018 Evaluate

Biocon, the Promoter of Syngene International, on May 16, 2018 has sold 37,65,574 Equity Shares amounting to 1.88% of the Equity Share capital of Syngene International through open market sale.

Based on average weighted price of Syngene's shares on May 16 at Rs 611.02 apiece, the transaction is estimated at Rs 230.08 crore. 

Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.


Peers
Company Name CMP
Sun Pharma. Inds. 1782.00
Dr. Reddys Labs. 1208.00
Cipla 1334.00
Lupin 2010.00
Zydus Lifesciences 1138.50
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