New Delhi, Dec 10 (PTI) Biocon Ltd, one of the promoters of Syngene International, on Tuesday divested a 2 per cent stake in the contract research and manufacturing services firm for Rs 686 crore through an open market transaction.

Billionaire Kiran Mazumdar Shaw-promoted Biocon offloaded shares of Syngene International through a bulk deal.

Also Read | 7th Pay Commission Latest News: Narendra Modi Government Likely To Hike DA for Employees by 3% in January 2025, Check Details.

As per the data on the BSE, Biocon Ltd sold 80 lakh shares, amounting to a 2 per cent stake in Syngene International.

The shares were offloaded at an average price of Rs 857.68 apiece, taking the transaction value to Rs 686.14 crore.

Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for December 10, 2024 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game.

After the latest transaction, the combined shareholding of promoter and promoter group entities of Syngene International declined to 52.72 per cent from 54.72 per cent.

Details of the buyers of Syngene International's shares could not be ascertained.

Shares of Syngene International rose 1.50 per cent to close at Rs 880.45 apiece on the BSE.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)