Serum Institute to sell stake to private equity firms
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Serum Institute of India Lts is reportedly in talks with private equity firms (with funds in the United States and Singapore), as confirmed by a media report by Reuters. The stake of as much as 10 percent in the unlisted group is under consideration. The report said Serum is seeking a valuation of as much as Rs 80,000 crore ($12.16 billion).
Reports, citing Chief Executive Officer Adar Poonawalla, said the group was in discussions with funds in the United States and Singapore. As reported earlier in June by some Indian newspapers that the Poonawalla family could sell as much as 20 per cent of the group to a long-term fund, after shelving plans for a market listing.
Reports, citing Chief Executive Officer Adar Poonawalla, said the group was in discussions with funds in the United States and Singapore. As reported earlier in June by some Indian newspapers that the Poonawalla family could sell as much as 20 per cent of the group to a long-term fund, after shelving plans for a market listing.
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