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Business News/ Companies / News/  Biocon to acquire 26% stake in Hinduja Renewables Two
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Biocon to acquire 26% stake in Hinduja Renewables Two

The cost of the acquisition is ₹5,91,61,730 for the acquisition of 26% stake on a fully diluted basis in one or more tranches, Biocon said

Shares of Biocon Ltd closed at ₹419.35 per scrip on BSE, down 0.18% from its previous close. (Photo: Mint)Premium
Shares of Biocon Ltd closed at 419.35 per scrip on BSE, down 0.18% from its previous close. (Photo: Mint)

NEW DELHI : Biotechnology major Biocon on Monday said it has inked an agreement for the acquisition of 26% stake on a fully diluted basis in Hinduja Renewables Two Pvt Ltd for 5.91 crore.

The indicative time period for completion of the acquisition is December 15, 2020, Biocon said in a BSE filing.

The cost of the acquisition is 5,91,61,730 for the acquisition of 26% stake on a fully diluted basis in one or more tranches, it added.

The object of the stake acquisition is to enhance the renewable-based power consumption, the filing said.

Shares of Biocon Ltd closed at Rs 419.35 per scrip on BSE, down 0.18% from its previous close.

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Published: 23 Nov 2020, 06:26 PM IST
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