Syngene International, a subsidiary of Biocon, a leading biotechnology company, filed Red Herring Prospectus with the registrar of companies, Bangalore on Wednesday. Accordingly, the initial public offer (IPO) of Syngene International will open for subscription to public on Monday, Jul. 27, 2015 and close on Jul. 29, 2015. The price band has been fixed between Rs 240 to Rs 250 a share.

Syngene plans to sell 22 million equity shares of face value of Rs 10 each, through IPO. The offer would constitute 11% of the post offer paid-up equity capital of the company. Biocon along with its subsidiary Biocon Research (BRL) holds 84.5% equity stake in Syngene.

Shares of the company gained Rs 2.15, or 0.44%, to trade at Rs 489.20. The total volume of shares traded was 72,011 at the BSE (10.01 a.m., Thursday).