Biocon shares bounce 6% as Mylan probably exits drugmaker after Rs 3,481 crore stake sale
Biocon shares jumped greater than 6% to commerce at Rs 436.15 apiece on Tuesday. If the inventory manages to carry on to the good points until the tip of the session, then at this time would mark its finest day since January, 2025.
Mylan, which is a part of world healthcare firm Viatris, deliberate to promote the stake which represents 5.64% of Biocon’s excellent shares, in accordance with a time period sheet as per a Reuters report. The ground worth of the provide was fastened at Rs 378.50 per share, implying a reduction of practically 8% to Biocon’s earlier closing worth of Rs 410.95 per share. The report added that Citigroup World Markets India and Jefferies India have been the joint bookrunners and brokers for the deal.
In the meantime, round 4.4 crore shares, or 2.7% fairness, modified fingers in a block deal within the early buying and selling hours, adopted by one other block deal that noticed 4.6 crore shares change fingers, ET Now reported. This brings the entire variety of shares which have been traded in block offers to just about 9 crore, practically matching what Mylan was anticipated to promote, though the vendor within the block offers that befell within the morning is but to be ascertained.
Additionally Learn | Mylan to promote as much as $363 million stake in India’s Biocon, time period sheet reveals
Biocon shareholding sample
Mylan held 5.64% stake in Biocon on the finish of the monetary 12 months 2026, in accordance with knowledge on the corporate’s shareholding sample accessible on NSE. Promoter Kiran Mazumdar Shaw held round 30% stake, whereas Glentec Worldwide held round 15% stake.
Round 39 mutual funds held over 15% stake within the firm, whereas insurance coverage corporations held greater than 6% stake. Practically 3.74 lakh retail shareholders in the meantime owned 6% stake within the firm, as of March 31, 2026.
Biocon share worth
Biocon shares sharply jumped greater than 6% on Tuesday to commerce at Rs 436.15 apiece on NSE, the best degree seen since Could 29 this 12 months. The shares of the corporate have jumped round 7% in a single week and 4% in a single month.
The shares of the drugmaker have gained round 12% in 2026 to date. In the long term, Biocon shares have delivered 14% returns over one 12 months, 66% returns over three years and 9% returns over 5 years.Additionally Learn | Sensex falls 500 factors, Nifty slips under 24,100 as US-Iran battle escalates. What lies forward?
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