Mylan Inc successfully executed a ₹1,839 crore block deal transaction on Tuesday, selling 4.59 crore shares of Biocon at ₹400 per share. According to exchange data reported by The Economic Times, the sell-side transaction attracted strong institutional participation across multiple categories of investors.
ICICI Prudential Mutual Fund emerged as the largest buyer, acquiring 1.84 crore shares worth ₹737 crore at the ₹400 per share price. As reported by The Economic Times, HDFC Mutual Fund and Kotak Mahindra Mutual Fund each purchased 58.29 lakh shares for approximately ₹233 crore each. SBI Mutual Fund bought 18.75 lakh shares valued at ₹75 crore, while Aditya Birla Sun Life Mutual Fund and ICICI Prudential Life Insurance Company each acquired 12.5 lakh shares worth ₹50 crore each.
The deal saw significant participation from international and domestic institutional investors beyond mutual funds. According to The Economic Times, Franklin Templeton Mutual Fund and Mirae Asset Mutual Fund each purchased 9.37 lakh shares valued at ₹37.5 crore each. Other notable buyers included UTI Mutual Fund, Axis Mutual Fund, Edelweiss Mutual Fund, Tata Mutual Fund, Motilal Oswal Mutual Fund, 360 One Mutual Fund, Bajaj Life Insurance, Axis Max Life Insurance, BNP Paribas Arbitrage, Citigroup Global Markets Singapore, Goldman Sachs Bank Europe, Ghisallo Master Fund, Norges Bank, and Sanatan Financial Advisory Services.
The block deal comes at a time when Biocon remains a closely tracked stock in the pharmaceutical and biotechnology sector. As reported by The Economic Times, the company maintains a presence across generics, biosimilars and research services through its group businesses. Investors continue to monitor the company's debt reduction efforts, biosimilars growth, margin recovery and regulatory updates as key performance indicators.
