Biocon stock jumps 4% after Mylan sells ₹3,680cr stake
Biocon's stock got a boost today, rising 4% after a huge block deal worth ₹3,680 crore went through in the pre-open market.
The deal involved 9.2 crore shares (about 5.6% of Biocon's total equity) at an average price of ₹400 per share.
Mylan kicked off this sale, having picked up the stake back in January 2026 when Biocon acquired Mylan's share in Biocon Biologics.
Biocon block deal at ₹400
Mylan set a floor price of ₹378.5 per share, but the block deal was executed at an average price of ₹400 per share.
As of the end of the March quarter, nearly half the company was held by promoters (44.68%), while mutual funds, foreign investors, and retail shareholders owned smaller chunks.
After today's big transaction, Biocon shares opened higher at ₹427.35 and have climbed 10% so far this year, a sign that investors are feeling pretty optimistic about where the company is headed next.