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

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,”