Syngene Off To A Solid Start, Stock Flies 18 Per cent

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Biotechnology major Biocon's research arm Syngene International today made an impressive debut at bourses, surging 18 per cent, over the issue price of Rs 250.

    The stock debuted at Rs 295, a sharp gain of 18 per cent against the issue price, on BSE even as the broader market remained lacklustre.

    Syngene Off To A Solid Start, Stock Flies 18 Per cent
    Biocon: Quotes, News
    BSE 628.40BSE Quote3.55 (0.56%)
    NSE 626.15NSE Quote1.6 (0.26%)

    Similarly, on NSE, the stock listed at Rs 295 and was later trading at Rs 311.90, up 24.76 per cent. The stock touched a high of Rs 315 and a low of Rs 295.

    The company's IPO, which concluded last month, was subscribed 32.03 times, helping it raise an estimated Rs 550 crore.

    The company had raised Rs 150 crore from anchor investors. The IPO opened on July 27 and closed on July 29.

    Syngene offers integrated drug discovery and development services with capabilities in medicinal chemistry, biology and toxicology.

    In January, Biocon concluded a sale of 10 per cent stake in Syngene for Rs 380 crore to IVF Trustee Company, which had valued Syngene International at Rs 3,800 crore.

    The stock of Biocon was trading at Rs 462.50, down 0.58 per cent, on BSE at 1200 hours.

    PTI

    Read more about: syngene ipo
    Story first published: Tuesday, August 11, 2015, 12:22 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more