Biocon Biologics gets ₹555-cr capital injection from ADQ

Date posted: Friday 8 January 2021

Biotechnology major Biocon on Thursday said its subsidiary Biocon Biologics got capital injection of ₹555 crore from Abu Dhabi-based ADQ. The transaction values the Biocon unit at $4.17 billion. Post the completion of this transaction, Biocon Ltd will hold 89.89% stake in Biocon Biologics on a fully diluted basis. As per the terms of the proposed agreement, ADQ will invest ₹555 Crore for a 1.80% minority stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of $4.17 billion.

(Live Mint)