The floor price for the transaction has been set at ₹615 per share, sources close to the development said. The sale could raise approximately ₹470 crore, based on the offered floor price, sources privy to the developments told CNBC-TV18.
Currently, Nadathur Fareast Pte Ltd is the biggest shareholder in Indegene with a 23.64% stake. CA Dawn Investments has a 20.42% stake, and Brighton Park Capital owns a 12% stake in the company.
Also Read: Cipla Block Deal: Share price falls as promoters offload 1.72% stake
Founded in 1998, Indegene offers solutions that help enable biopharmaceutical, emerging biotech and medical devices companies to develop products, launch them in the market, and drive sales throughout their life cycle.
For the period ended December 2023, the firm clocked revenue from operations of ₹1,969 crore and posted a profit after tax of ₹241 crore. Shares of Indegene Ltd ended at ₹665.00, down by ₹16.70, or 2.45% on the BSE.
Also Read: ZF Group sells 4.3% stake in Indian subsidiary for ₹1,022 crore
