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Tata Capital Growth Fund to invest Rs 225 cr in Biocon Biologic

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Biocon announced that the Board of its subsidiary Biocon Biologics India (Biocon Biologics) has approved a primary equity investment by Tata Capital Growth Fund.

As per the terms of the proposed agreement, Tata Capital will invest Rs 225 crore for a 0.85% minority stake in the biosimilar business, valuing Biocon Biologics at an equity valuation of Rs 26,250 crore, or ~USD 3.5 billion, and an enterprise valuation of Rs 30,400 crore, or ~USD 4.0 billion.

The transaction is subject to standard condition precedents and approvals. Post the completion of this transaction, Biocon will hold 95.25% stake in Biocon Biologics.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 31 2020. 09:08 IST