As many as 9.2 crore shares or 5.64% of the company’s outstanding equity has changed hands in the block deal.
Shares changed hands at an average price of ₹400 per share. Buyers and sellers in this transaction are not officially known.
CNBC-TV18 had reported on Friday that Mylan plans on selling its entire 5.64% stake in Biocon through a block deal. Floor price for the deal was set at ₹378.5 per share, which is a discount of 8% in comparison to Monday’s closing price for the stock.
Mylan was offered a 6% stake in Biocon after the Biocon Biologics deal, in which Biocon had acquired all of Mylan’s stake in the Biologics unit in January this year through a share swap and cash.
The issue of shares to Mylan in Biocon was done through a preferential allotment.
At the end of the March quarter, promoters of Biocon had a 44.68% stake in the company.
Among public shareholders, Mutual Funds held a 15.49% stake in the company, while foreign portfolio investors had a 8.16% stake.
As many as 3.7 lakh retail shareholders, or those with authorized share capital of up to ₹2 lakh, had a 5.78% stake, while retail investors with authorized share capital of more than ₹2 lakh, had a 4.38% stake.
Shares of Biocon are now trading 6.7% higher on Tuesday after the block deal. The stock is now trading at ₹437.35. The stock has risen 15% so far this year. This is the biggest single-day gain for the stock since January 2025.
