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Silver Leaf Oak acquires 10% stake in Syngene International, Biocon’s Research Services Subsidiary for Rs. 380 Crore (US$ 62 Mn)

Silver Leaf Oak (Mauritius) Limited, an investment vehicle advised by India Value Fund Advisors, has acquired a minority 10% stake in Syngene International Limited, Biocon’s Research Services subsidiary. Silver Leaf has acquired the stake from Biocon Research Limited, a wholly owned subsidiary of Biocon Limited at a valuation of Rs.3800 Crore. Post this transaction, the joint-holding of Biocon and BRL in Syngene is 85.54%. The Biocon Group was solely advised by Allegro Advisors.

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