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The Economic Times
The Economic Times
Business
Kumar Gaurav

Biocon shares: Active Pine may divest up to 1% equity worth Rs 638 crore via block deal

Biocon Brazil Kumar Gaurav SEBI

Active Pine is likely to sell up to 1.66 crore shares, representing around 1% equity, in billionaire Kiran Mazumdar-Shaw-led pharmaceutical firm Biocon, through a block deal, according to sources. The offer size is pegged at Rs 638 crore, with the floor price set at Rs 385 per share.

Shares of Biocon settled at Rs 392.55, down 0.24% from the previous close of Rs 393.50 per share on the BSE on Tuesday, September 8. The stock traded in the range of Rs 399.50 to Rs 390.90 during the day. The company commands a market capitalisation of Rs 63,973.64 crore on the BSE.

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