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Biocon shares jump 6% as Mylan likely exits drugmaker after Rs 3,481 crore stake sale
Biocon shares experienced a significant jump of over 6% on Tuesday. Viatris-owned Mylan intends to sell a substantial stake, exiting the Indian drugmaker. This stake sale represents 5.64% of Biocon's outstanding shares. The offer's floor price was set at a discount to the previous closing price. Block deals totaling nearly nine crore shares occurred in early trading hours.
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thehindubusinessline.com
Biocon to see block deals, as Viatris plans to exit
Viatris plans to sell a 5.64% stake in Biocon at a 7.9% discount, marking a complete exit.
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economictimes.indiatimes.com
Biocon shares jump 6% as Mylan likely exits drugmaker after Rs 3,481 crore stake sale
Biocon shares experienced a significant jump of over 6% on Tuesday. Viatris-owned Mylan intends to sell a substantial stake, exiting the Indian drugmaker. This stake sale…
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Rs 1,839 crore Biocon block deal: ICICI Pru MF biggest buyer along with Citi and Goldman Sachs
Mylan sold a ₹1,839 crore stake in Biocon through a block deal, attracting strong institutional demand. ICICI Prudential Mutual Fund emerged as the largest buyer, alongside other…
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Mylan exits Biocon with ₹3,679-crore stake sale; Biocon shares jump over 6%
Mylan, part of Viatris, exits Biocon by selling its 5.64% stake for ₹3,679 crore. Domestic mutual funds and global investors buy shares as Biocon gains over 6%.