Biocon Ltd will be selling its entire 78% stake in it's German unit, AxiCorp GmbH, to minority shareholders, for 40 million euros ($58.2 Mn).AxiCorp was the licensee for Biocon's insulin and Glargine products in Germany and had the sole responsibility for commercialising these products.
Transactio Reference: Business Standard
Religare Enterprises Limited will raise Rs.800 Cr through rights issue, with an option to increase the issue size by additional 10%.
SAIF Partners, one of the early backers of BSE listed local search directory, Just Dial has sold close to 2.4% stake in the company for a total of INR254 Cr. The part exit fetches the fund, a 30x returns on its seven year old investment.