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Biocon Biologics Receives Further Investment As Value Hits $3.5bn

Tata Capital Takes 0.85% Holding

 
• By Dean Rudge

Biocon has received another influx of cash for its Biocon Biologics biosimilars arm, with a $30m investment from private equity group Tata Capital. Ahead of plans to realize $1bn of sales by its financial year ending March 2022, Biocon has been reorganizing and financing Biocon Biologics, with an initial public offering also on the cards by 2023.

Biocon_Magnified
Biocon has offloaded another sliver of equity in Biocon Biologics • Source: Shutterstock

Biocon has agreed to a INR2.25bn ($30m) investment in its biosimilars business, Biocon Biologics India Limited, by private equity fund Tata Capital Growth Fund in exchange for a 0.85% minority holding, in a move that values Biocon Biologics’ total equity at roughly $3.5bn.

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