Biocon shares rise 8% on Mylan's ₹3,481 crore block deal
pre-market1 source ↓written by the desknot a recommendation
- in early trade
- 8%
- valued
- ₹3,481 crore
- This transaction involves
- 9.2 crore shares
- of Biocon's equity
- 5.64%
- per share
- ₹378.50
Biocon shares surged 8% in early trade after Mylan, a Viatris subsidiary, launched a block deal to sell its entire stake, valued at ₹3,481 crore. This transaction involves 9.2 crore shares, representing 5.64% of Biocon's equity, with a floor price of ₹378.50 per share, a 7.9% discount to the previous close. Heavy trading activity indicates strong market interest.
Not investment advice. For informational purposes only.