India's Biocon to file for Syngene unit's IPO in 2 months -sources

March 31, 2015 12:07 PM

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MUMBAI, March 31 (Reuters) - Indian biotechnology firm Biocon Ltd could file a prospectus for a share listing for its research services business arm Syngene International (IPO-SYNN.NS) within the next two months, two sources directly involved in the process said.

The IPO could fetch up to 10 billion rupees ($159.8 million), said one of the sources. However, the sources did not specify how much was being sold in Syngene. Biocon had said in January it was looking to sell up to 15 percent of its stake via an IPO.

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