Biocon pressured that the stake acquisition is geared toward enhancing renewable-based energy consumption.
Biocon stated on Monday that it has entered into an settlement to amass a 26 per cent stake in Hinduja Renewables Two, a particular objective automobile fashioned to generate energy and develop a captive energy plant in Karnataka. The acquisition is value Rs 5.92 crore and the transaction shall be accomplished by December 15.
“The price of the acquisition is Rs 5,91,61,730 for the acquisition of 26 per cent stake on a completely diluted foundation in a number of tranches,” the Bangalore-based Biocon stated in a BSE submitting.
Biocon pressured that the stake acquisition is geared toward enhancing renewable-based energy consumption.
Biocon is India’s main biopharmaceutical firm and is based by Kiran Mazumdar-Shaw.
At 11:30 am, the shares of Biocon have been buying and selling completely flat at Rs 419.65, down 25 paise, as in opposition to a 0.5 per cent acquire within the benchmark indices.
Discover more from News Journals
Subscribe to get the latest posts sent to your email.
