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Biocon spurts on inking pact with GE Capital for equity divestment in Syngene

31 Oct 2012 Evaluate

Biocon is currently trading at Rs 263.30, up by 4.35 points or 1.68% from its previous closing of Rs 258.95 on the BSE.

The scrip opened at Rs 261.10 and has touched a high and low of Rs 265.35 and Rs 261.10 respectively. So far 22008 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 354.75 on 01-Nov-2011 and a 52 week low of Rs 208.10 on 04-Jun-2012.

Last one week high and low of the scrip stood at Rs 269.85 and Rs 257.00 respectively. The current market cap of the company is Rs 5262 crore.

The promoters holding in the company stood at 60.96% while Institutions and Non-Institutions held 15.41% and 23.63% respectively.

Biocon, Asia’s premier biotechnology company, has signed an agreement with GE Equity International Mauritius, a subsidiary of GE Capital Corporation (GE Capital), which will make a primary equity investment in its research services subsidiary, Syngene International (Syngene). The Biocon Group was advised by Allegro Corporate Finance Advisors and Mundkur Law Partners.

As per the terms of the agreement, GE Capital would invest Rs 125 crore for a 7.69% equity share in Syngene. However, the transaction is subject to standard condition precedents including regulatory approvals.

Syngene registered nearly Rs 400 crore in FY12. During H1, FY13, the business continues to gain momentum with sales of nearly Rs 250 crore.

Biocon produces anti-diabetic agents like Acarbose, Pioglitazone, Repaglinides and Rosiglitazone. In the biological segment it produces Insulin, Erythropoietin (EPO), Filgrastim (GCSF), Streptokinase and Monoclonal Antibodies.

Biocon Share Price

358.20 7.65 (2.18%)
17-Apr-2026 16:59 View Price Chart
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