Tata Capital Growth Fund to invest in Biocon Biologics; stock gains

Apurva Joshi
/ Categories: Trending
Tata Capital Growth Fund to invest in Biocon Biologics; stock gains

Tata Capital Growth Fund is set to invest Rs 225 crore (USD 30 million) to buy 0.85 per cent minority stake in Biocon Biologics, which is the subsidiary of Biocon Limited, handling the company’s biosimilar business.

Biocon Biologics’ equity valuation stands at Rs 26,250 crore (USD 3.5 billion) with an enterprise valuation of Rs 30,400 crore (USD 4 billion). Post the completion of this transaction, Biocon will hold a 95.25 per cent stake in Biocon Biologics.

The management of Biocon Biologics informed that the company has emerged as a global biosimilars player with two of its products commercialised in the United States while the launch of its third biosimilar is in the process.

Through prudent investments in R&D and high-quality manufacturing infrastructure, the company aims to serve five million patients through its biosimilars portfolio and clocks a target revenue of USD 1 billion in FY22.

Earlier this month, the company had announced a global collaboration with Voluntis, a leader in digital therapeutics, to develop and distribute innovative digital therapeutics supporting people with diabetes on biologics therapy.

Biocon Biologics is engaged in developing high-quality, affordable biosimilars aimed at expanding patient access to a cutting-edge class of therapies across the world. It has a platform of 28 biosimilar molecules across diabetes, oncology, immunology, dermatology, ophthalmology, neurology, rheumatology, and inflammatory diseases.

On Friday, during the early morning session, Biocon was up by 2 per cent at Rs 411.60 from its previous close of Rs 403.40 on BSE.

Rate this article:
5.0

Leave a comment

Add comment

DSIJ MINDSHARE

Mkt Commentary28-Mar, 2024

Multibaggers28-Mar, 2024

Mindshare28-Mar, 2024

Penny Stocks28-Mar, 2024

Penny Stocks28-Mar, 2024

Knowledge

General26-Mar, 2024

MF25-Mar, 2024

General18-Mar, 2024

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR