- Home
- Medical news & Guidelines
- Anesthesiology
- Cardiology and CTVS
- Critical Care
- Dentistry
- Dermatology
- Diabetes and Endocrinology
- ENT
- Gastroenterology
- Medicine
- Nephrology
- Neurology
- Obstretics-Gynaecology
- Oncology
- Ophthalmology
- Orthopaedics
- Pediatrics-Neonatology
- Psychiatry
- Pulmonology
- Radiology
- Surgery
- Urology
- Laboratory Medicine
- Diet
- Nursing
- Paramedical
- Physiotherapy
- Health news
- Fact Check
- Bone Health Fact Check
- Brain Health Fact Check
- Cancer Related Fact Check
- Child Care Fact Check
- Dental and oral health fact check
- Diabetes and metabolic health fact check
- Diet and Nutrition Fact Check
- Eye and ENT Care Fact Check
- Fitness fact check
- Gut health fact check
- Heart health fact check
- Kidney health fact check
- Medical education fact check
- Men's health fact check
- Respiratory fact check
- Skin and hair care fact check
- Vaccine and Immunization fact check
- Women's health fact check
- AYUSH
- State News
- Andaman and Nicobar Islands
- Andhra Pradesh
- Arunachal Pradesh
- Assam
- Bihar
- Chandigarh
- Chattisgarh
- Dadra and Nagar Haveli
- Daman and Diu
- Delhi
- Goa
- Gujarat
- Haryana
- Himachal Pradesh
- Jammu & Kashmir
- Jharkhand
- Karnataka
- Kerala
- Ladakh
- Lakshadweep
- Madhya Pradesh
- Maharashtra
- Manipur
- Meghalaya
- Mizoram
- Nagaland
- Odisha
- Puducherry
- Punjab
- Rajasthan
- Sikkim
- Tamil Nadu
- Telangana
- Tripura
- Uttar Pradesh
- Uttrakhand
- West Bengal
- Medical Education
- Industry
Tata Capital Growth Fund to invest Rs 225 crore in Biocon Biologics
Post the completion of this transaction, Biocon will hold 95.25 per cent stake in Biocon Biologics, the biotechnology major added.
New Delhi: Biotechnology major Biocon on Friday said Tata Capital Growth Fund will invest USD 30 million (Rs 225 crore) in its subsidiary Biocon Biologics to acquire 0.85 per cent equity stake in the company.
The firm said this deal values Biocon Biologics at USD 3.5 billion.
In a regulatory filing, Biocon said the board of its subsidiary Biocon Biologics India has approved a primary equity investment by Tata Capital Growth Fund.
As per the terms of the proposed agreement, Tata Capital will invest USD 30 million (Rs 225 crore) for a 0.85 per cent minority stake in the biosimilar business.
Post the completion of this transaction, Biocon will hold 95.25 per cent stake in Biocon Biologics, the biotechnology major added.
The transaction is subject to standard condition precedents and approvals.
Dr Christiane Hamacher, CEO, Biocon Biologics, said this equity infusion is the next step in the company's journey of unlocking value.
"Through prudent investments in research and development 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 the financial year 2021-22," Hamacher added.
Akhil Awasthi, Managing Partner, Tata Growth PE, said this investment is in line with its focus on export-oriented manufacturing in world beating companies.
Shares of Biocon were trading 0.53 per cent higher at Rs 405.55 apiece on BSE.
Read also: Biocon Biologics, Voluntis Collaborate For Digital Therapeutics For Diabetics Patients
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751