Biocon Ltd., a biopharmaceuticals firm, on July 31 introduced that the Board of its subsidiary, Biocon Biologics India Limited, accredited a main fairness funding by Tata Capital Growth Fund.
As per the phrases of the proposed settlement, Tata Capital will make investments ₹225 crore for a 0.85% minority stake within the biosimilar enterprise, valuing Biocon Biologics at an fairness valuation of ₹26,250 crore, or $3.5 billion, and an enterprise valuation of ₹30,400 crore or $4.Zero billion.
The transaction is topic to straightforward situation precedents and approvals. Post the completion of this transaction, Biocon will maintain 95.25% stake in Biocon Biologics, as per an organization assertion.
Dr. Christiane Hamacher, CEO, Biocon Biologics, mentioned: “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 USD 1 billion in FY22.”