Biocon Biologics approves Rs 1,125 crore investment from Goldman Sachs
As per the terms of the proposed agreement, Goldman Sachs will be issued Optionally Convertable Debentures at a post money equity valuation of USD 3.94 billion.;
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New Delhi: Biocon on Saturday said its subsidiary Biocon Biologics has approved a Rs 1,125 crore investment from Goldman Sachs. This capital injection by Goldman Sachs will enable Biocon Biologics to make prudent investments in R&D, high-quality manufacturing, as well as, establish a global commercial footprint.
The board of Biocon Biologics has approved a Rs 1,125 crore (USD 150 million) capital injection from Goldman Sachs, Biocon said in a statement.
As per the terms of the proposed agreement, Goldman Sachs will be issued Optionally Convertible Debentures at a post money equity valuation of USD 3.94 billion, it added.
"We are extremely pleased to welcome a capital injection by Goldman Sachs at this inflection point of Biocon Biologics' journey in its quest for global leadership in providing affordable access through Biosimilar drugs," Biocon Executive Chairperson Kiran Mazumdar-Shaw said.
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