Business Standard

Tata Capital to pick minority stake in Biocon Biologics for $30 million

Equity infusion part of a larger $200-300 million round the company plans to raise over the next few months as it eyes an IPO


Post the completion of this transaction, Biocon will hold 95.25 per cent stake in Biocon Biologics.

Samreen Ahmad Bengaluru
Private equity (PE) player Tata Capital is set to pick up a minority 0.85 per cent stake for $30 million in the biologics arm of biopharmaceutical major Biocon, the Bengaluru-based company said on Friday.

This new round of equity infusion will happen at a valuation of around $3.5 billion for Biocon Biologics.

“This equity infusion is the next step in our journey of unlocking value. Through prudent investments in R&D and high-quality manufacturing infrastructure we are confident of achieving our aspiration of serving 5 million patients through our biosimilars portfolio and achieving a target revenue of $1 billion in FY22,”

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First Published: Jul 31 2020 | 10:05 AM IST

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