<p class="title">Biocon Ltd has sold close to 2% stake in its research arm Syngene International for an estimated Rs 230 crore.</p>.<p class="bodytext">"Biocon, the promoter of Syngene International, on May 16, 2018 has sold 37,65,574 equity shares amounting to 1.88% of the equity share capital of Syngene through open market sale," Biocon said in a regulatory filing.</p>.<p class="bodytext">In a separate filing, Syngene said Biocon has sold the shares for achieving minimum public shareholding requirement.</p>.<p class="bodytext">Based on average weighted price of Syngene's shares on May 16 at Rs 611.02 apiece, the transaction is estimated at Rs 230.08 crore.</p>.<p class="bodytext">Post transaction, stake of promoter and promoter group in the company stands at 72.57%. Public shareholding is 25.90%.</p>.<p class="bodytext">Shares of Syngene International were trading 0.14% lower at Rs 605.50 apiece on BSE.</p>
<p class="title">Biocon Ltd has sold close to 2% stake in its research arm Syngene International for an estimated Rs 230 crore.</p>.<p class="bodytext">"Biocon, the promoter of Syngene International, on May 16, 2018 has sold 37,65,574 equity shares amounting to 1.88% of the equity share capital of Syngene through open market sale," Biocon said in a regulatory filing.</p>.<p class="bodytext">In a separate filing, Syngene said Biocon has sold the shares for achieving minimum public shareholding requirement.</p>.<p class="bodytext">Based on average weighted price of Syngene's shares on May 16 at Rs 611.02 apiece, the transaction is estimated at Rs 230.08 crore.</p>.<p class="bodytext">Post transaction, stake of promoter and promoter group in the company stands at 72.57%. Public shareholding is 25.90%.</p>.<p class="bodytext">Shares of Syngene International were trading 0.14% lower at Rs 605.50 apiece on BSE.</p>