Activ Pine LLP, an affiliate of private equity firm True North, has offloaded more than Rs 638 crore worth of shares in Bengaluru-based biopharmaceutical company Biocon through open-market transactions on September 9.
Following the block deals, Biocon shares ended at Rs 395, up 0.62 percent, amid high trading volumes on the BSE.
Activ Pine LLP sold 1.65 crore equity shares, representing a 1.02 percent stake in Biocon, at Rs 385 per share. The sale was made from its total holding of 1.08 percent, or 1.76 crore equity shares, as of June 2026.
The shares, valued at Rs 638.37 crore, were bought by 12 global and domestic marquee investors, including Citigroup, Kotak Mahindra AMC, ICICI Prudential AMC, BNP Paribas, Societe Generale and SBI Mutual Fund, at Rs 385 apiece.
ICICI Prudential Mutual Fund emerged as the largest buyer, acquiring additional 74.03 lakh shares for Rs 285.02 crore. It was followed by SBI Mutual Fund, which picked up 14.23 lakh shares for Rs 54.82 crore.