Syngene to raise Rs 150 cr from anchor investors

Biotechnology major Biocon's research arm Syngene International will raise Rs 150 crore from anchor investors.
Syngene's initial public offer (IPO) will open on July 27.
During its meeting today, the IPO committee of the company finalised allocation of 60 lakh equity shares at a price of Rs 250 apiece to 13 anchor investors, the company informed stock exchanges.
Based on the price of Rs 250 per share, allottment to anchor investors would fetch Rs 150 crore.
The anchor investors include Monetary Authority of Singapore, Government of Singapore, Goldman Sachs India Fund Ltd, DB International (Asia) Ltd, ICICI Prudential Top 100 Fund.

Syngene's initial share would open on July 27 and close on July 29. The price band has been fixed between Rs 240 to Rs 250 per equity share.
The company said its Red Herring Prospectus filed by Syngene with the Registrar of Companies, Bangalore was approved on July 15, 2015.
As per the draft papers, the company plans to sell 22 million equity shares, including reservation of up to two million shares for Biocon shareholders, through an offer for sale.