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Biocon files prospectus with SEBI for Syngene IPO

The company has filed prospectus with the capital market regulator SEBI for the initial public offer of its research arm Syngene on Wednesday.

The company is planning to raise around Rs 600 crore which will be used to fund its R&D programmes.

“The DRHP (Draft Red Herring Prospectus) has been filed with the market regulator today,” the company said.

The stake dilution will be 11% of the post issue diluted equity capital of Syngene.

From the total shares on offer 50% has been reserved for QIBs, 15% for high net worth individuals and 35% for retail investors.

Subject to regulatory approvals, the listing is expected to be materialised by July this year.

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