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Biocon Biologics India Ltd allots 50,25,463 shares to Activ Pine LLP

Posted On: 2020-01-21 20:26:34

Pursuant to execution of a share subscription agreement ("SSA") and a shareholder agreement ("SHA") between Biocon Limited (the "Company"), Biocon Biologics India Limited ("BBIL") and Activ Pine LLP (an affiliate of True North Fund VI LLP), the subscription money aggregating to Rs. 536.25 Crores have been received by BBIL from Activ Pine LLP.

Consequently, the Board of BBIL has approved the allotment of 50,25,463 equity shares (Fifty lakhs Twenty Five Thousand Four Hundred and Sixty Three Only) of Rs. 10 each at a price of Rs. 1,067.07 per equity share (including a premium of Rs. 1,057.07 per equity share) to Activ Pine LLP.

Shares of BIOCON LTD. was last trading in BSE at Rs.294.35 as compared to the previous close of Rs. 292.05. The total number of shares traded during the day was 76840 in over 1179 trades.

The stock hit an intraday high of Rs. 295.9 and intraday low of 290.15. The net turnover during the day was Rs. 22601902.


Source: Equity Bulls

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