Biocon Biologics receives capital infusion of Rs 555 cr from Abu Dhabi based ADQ

Biocon announced that the Board of its subsidiary Biocon Biologics has approved a primary equity investment by Abu Dhabi based ADQ (ADQ), one of the region's largest holding companies. As per the terms of the proposed agreement, ADQ will invest Rs 555 crore for a 1.80% minority stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of ~USD 4.17 billion.

The transaction is subject to customary condition precedents and approvals. Post the completion of this transaction, Biocon will hold 89.89% stake in Biocon Biologics on a fully diluted basis.

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