Ontario Inc. Likely to Sell Stake in Concord Biotech for Rs 468.4 Cr Block Deal

Ontario Inc. is planning to sell 3.4% of the total equity it holds in Concord Biotech via a block deal, according to CNBC-TV18 sources aware of the matter.

 The shares are valued at Rs 468.4 crore and are being offered at a floor price of Rs 1,320.

Citigroup is the sole book runner for the transaction.

This strategic sale includes a 90-day lock-in period for the residual stake, with sellers having a residual stake of 2% in the company.

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