Biocon fixes Rs 270-315 IPO band

The price band for Biocon Ltd's forthcoming initial public offering has been fixed at Rs 270 to Rs 315 per equity share of face value of Rs 5.

The company has opted for the 100 per cent book building route. Biocon on Monday filed its prospectus with the Registrar of Companies - Bangalore.

The issue would constitute 10 per cent of the fully diluted post issue paid up capital of the Company.

Biocon will list the equity shares on the National Stock Exchange and the Bombay Stock Exchange. The post-issue paid-up capital of Biocon will be Rs 100 crore.

Kiran Mazumdar-Shaw, chairman and managing director, Biocon, said, "We intend to utilise the proceeds of the public offering for enhancing our submerged fermentation and chemical synthesis capacity."