Syngene IPO to keep Biocon in limelight

Shares of Biocon will remain in focus next week, as the public issue of its arm Syngene International will open for subscription between July 27 and 29. The company has fixed the price band at ₹240-250 a share and plans to raise ₹550 crore through the issue. Syngene will sell 2.2 crore equity shares. Post-offer, promoters’ stake would come down to 74.5 per cent from 85.5 per cent now. Analysts will be keenly watching the response to the public issue.