Syngene International Promoter Sells 2% Stake for Rs 686 Crore
By Rediff Money Desk, New Delhi Dec 10, 2024 19:45
Biocon Ltd, a promoter of Syngene International, has divested a 2% stake in the contract research and manufacturing services firm for Rs 686 crore through an open market transaction.
New Delhi, Dec 10 (PTI) Biocon Ltd, one of the promoters of Syngene International, on Tuesday divested a 2 per cent stake in the contract research and manufacturing services firm for Rs 686 crore through an open market transaction.
Billionaire Kiran Mazumdar Shaw-promoted Biocon offloaded shares of Syngene International through a bulk deal.
As per the data on the BSE, Biocon Ltd sold 80 lakh shares, amounting to a 2 per cent stake in Syngene International.
The shares were offloaded at an average price of Rs 857.68 apiece, taking the transaction value to Rs 686.14 crore.
After the latest transaction, the combined shareholding of promoter and promoter group entities of Syngene International declined to 52.72 per cent from 54.72 per cent.
Details of the buyers of Syngene International's shares could not be ascertained.
Shares of Syngene International rose 1.50 per cent to close at Rs 880.45 apiece on the BSE.
Billionaire Kiran Mazumdar Shaw-promoted Biocon offloaded shares of Syngene International through a bulk deal.
As per the data on the BSE, Biocon Ltd sold 80 lakh shares, amounting to a 2 per cent stake in Syngene International.
The shares were offloaded at an average price of Rs 857.68 apiece, taking the transaction value to Rs 686.14 crore.
After the latest transaction, the combined shareholding of promoter and promoter group entities of Syngene International declined to 52.72 per cent from 54.72 per cent.
Details of the buyers of Syngene International's shares could not be ascertained.
Shares of Syngene International rose 1.50 per cent to close at Rs 880.45 apiece on the BSE.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 7.99 (+ 1.52)
- 58018780
- Mishtann Foods L
- 9.17 ( -5.17)
- 27555831
- Shree Securities
- 0.42 ( -6.67)
- 27309223
- AvanceTechnologies
- 0.90 ( -4.26)
- 25537567
- Rajnish Wellness
- 1.69 ( -2.87)
- 19267607
MORE NEWS
Zepto Cuts Losses, Revenue Doubles in FY24
Quick commerce firm Zepto narrowed its losses to Rs 1,248.6 crore in FY24, while...
KKR Sells 2.6% Stake in India Grid Trust for Rs...
Private equity firm KKR has sold a 2.6% stake in India Grid Trust for Rs 277 crore...
MFN Clause Suspension: India Needs Strategic...
Switzerland's suspension of the MFN clause in its tax treaty with India highlights the...