Avendus Capital and Spark Capital Advise Biocon Limited on Its 5.4% Stake Sale (USD 153 mn) in Syngene International Limited
Biocon Limited (Biocon) sold 5.4% of its stake in Syngene International Limited (Syngene), at a price of INR 560 per share (discount of 3% on the previous day’s closing price), valued at USD 153 million (INR 1,220 crore). The well distributed book saw participation from marquee endowment funds, top domestic funds and other prominent institutional investors.
Avendus Capital was the sole advisor and Spark Capital was the sole broker to this transaction.
About Biocon Limited
Incorporated in 1993, as a subsidiary of Biocon Limited, Syngene International is a contract research and manufacturing company providing drug discovery and development services in India, the U.S. and other countries. The Company serves pharmaceutical, biotechnology, nutrition, animal health and specialty chemical companies.
Biocon is India’s largest biopharmaceutical company, delivering high quality Biosimilar, Generic Formulation and API products, as well as research services, to patients and customers around the globe. The Company’s portfolio comprises of products in therapeutic areas such as oncology, immunology and diabetes, among others, serving patients and customers in approximately 120 countries.
1CRO – Contract Research Organization 2CDMO - Contract Development and Manufacturing Organization
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