Biocon Sells 1.88% in Syngene
Bengaluru-based biotech firm, Biocon, has sold 1.88% stake in its research arm, Syngene International, for around Rs. 230-crore. According to a filing in the exchanges, Biocon sold 37,65,574 equity shares amounting to 1.88% of the equity share capital of Syngene through open market sale. Post the transaction, promoter and promoter group stakes in the company was 72.57%. Also, in a separate filing to the exchanges, Syngene said Biocon has sold the shares to achieve minimum public shareholding requirement. Public shareholding was 25.90%.
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