Silver Leaf Oak sells Syngene shares worth Rs 71 cr

Silver Leaf Oak, a Mauritius-based private equity fund, today sold 12 lakh shares of Syngene International for an estimated over Rs 71 crore through an open market transaction.

Syngene International is the research services arm of biotechnology major Biocon.

Silver Leaf Oak (Mauritius Ltd) has offloaded a total of 12 lakh shares, amounting to 0.6 per cent, of Syngene International.

The shares were sold at an average price of Rs 595.08, valuing the transaction at Rs 71.41 crore.

Syngene International, which offers integrated drug discovery and development services with capabilities in medicinal chemistry, biology and toxicology, got listed on stock exchanges last year.

In January last year, Silver Leaf Oak concluded a deal to buy 10 per cent stake in Syngene for Rs 380 crore.

Shares of Syngene International today fell by 1.95 per cent to settle at Rs 585.85 on the BSE.