Mylan exits Biocon with ₹3,679 crore block deal
after close1 source ↓written by the desknot a recommendation
- selling its entire
- 5.64% stake
- through open market
- ₹3,679 crore
- were offloaded
- 9,19,67,019 shares
- each
- ₹400
- traded lower
- ₹435.25
Mylan Inc has exited Biocon Ltd by selling its entire 5.64% stake for ₹3,679 crore through open market transactions. A total of 9,19,67,019 shares were offloaded at an average price of ₹400 each, impacting Biocon's share price, which traded lower at ₹435.25, down 0.47% early Wednesday.
This significant transaction may influence market sentiment around Biocon shares, as the exit of a major stakeholder could lead to increased volatility in the stock's performance.
Not investment advice. For informational purposes only.