rediff.com
REAL-TIME QUOTE
Enter Company or MF
e.g. Tata motors, Reliance MF, 500570
Biocon looks to take its subsidiary Syngene public


29 Jan 2015
Biocon Ltd is planning to list its subsidiary Syngene by selling up to 15 per cent stake in a public offer, the company said as mper the media report, after reporting third-quarter earnings.

Earlier on Thursday, Biocon said its board had approved starting the process of listing and hiring merchant bankers to sell 10-15 per cent from Biocon's majority stake in the unit in the public offer.

Biotech firm Biocon Ltd on Thursday reported that its consolidated net profit for the third quarter ended December 31, 2014 fell by 13 per cent at Rs 90.93 crore from the same period a year ago despite higher revenue.

The jump in research and development expenses reflected advances made in multiple R&D programmes, Kiran Mazumdar-Shaw, Biocon's chairwoman and managing director, said in the statement.
Source: Dion Global   Type: IPO Related