Biocon sells 80,00,000 equity shares of subsidiary Syngene for Rs.686 crore  

Biocon in a regulatory filing on Tuesday said it sold 80,00,000 equity shares of its subsidiary Syngene International Ltd. (Syngene) in the open market for Rs.686 crore through a block deal.

Post this transaction, the shareholding of Biocon in Syngene shall stand at 52.46%. Prior to this transaction, Biocon held 54.45% stake in Syngene.

Syngene focusses on integrated research, development, and manufacturing services for global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors

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