Biocon has introduced that the Board of its subsidiary Biocon Biologics India has accepted a primary fairness investment with the aid of True North. As per the phrases of the proposed agreement, True North will invest Rs. 536.25 crore so that it will in the end translate to a 2.Forty four% minority stake within the biosimilars enterprise publish all restructuring, along with the filed merger of Biocon Research Ltd with Biocon Biologics, valuing Biocon Biologics at Rs. 21,450 crore or ~USD three billion on a pre-money fairness basis.
The transaction is concern to traditional condition precedents together with regulatory approvals. Post the final touch of this transaction, Biocon will hold 96.07% stake in Biocon Biologics.
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