Shareholding10 Dec 2024, 10:24 pm
Biocon Ltd. Sells 80 Lacs Shares of Syngene International Limited for ~686 Crores
AI Summary
Biocon Ltd. has sold 80,00,000 equity shares of Syngene International Limited in the open market through a block deal mechanism on December 10, 2024. This transaction has resulted in Biocon's shareholding in Syngene reducing to 52.46%. The sale was made for a gross traded value of approximately ~686 Crores on the exchange, subject to statutory levies, brokerage, etc. None of the buyers belonged to the promoter/promoter group or group companies. The sale was not a related party transaction and was not part of a Scheme of Arrangement.
Key Highlights
- Biocon sold 80,00,000 equity shares of Syngene International Limited
- The transaction was worth approximately ~686 Crores
- Post-transaction, Biocon's shareholding in Syngene stands at 52.46%
- No buyers belonged to the promoter/promoter group or group companies
- The sale was not a related party transaction and was not part of a Scheme of Arrangement