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The Economic Times
The Economic Times

Biocon shares rise 3% after Rs 638-crore block deal; Active Pine likely seller

Biocon Brazil

Shares of Biocon gained over 3% to Rs 404 on Wednesday as the stock experienced a block deal after 1.65 crore shares changed hands. Active Pine was looking 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 media reports.

The offer size is pegged at Rs 638 crore, with the floor price set at Rs 385 per share.

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