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Mauritius-based Stream Value Fund is set to invest and join hands with Transgene Biotek, a research driven drug company working in bio-technology area.
The Mauritius Fund, which invests in CSR and sustainable finance initiatives in Asia, Africa, etc, is a registered FII with the SEBI. It will join the promoter on a long-term basis to support the company’s drug discovery activity. The partnership will include equity participation by Stream Value Fund and certain rewards on drug licensing or sale.
A precondition to the Mauritius fund picking up equity in the Promoter’s stake is the delisting of the shares of Transgene Biotek. Hyderabad-based Transgene has already got board approval to delist from the stock exchanges. It is in the process of seeking shareholders approval through a postal ballot.
The floor price minimum offer according to SEBI regulations is around Rs 25.
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