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IndiaRF to invest Rs 992 crore in Panacea Biotec

09 Apr 2019 Evaluate

India Resurgence Fund (IndiaRF), promoted by Piramal Enterprises and Bain Capital Credit, along with its affiliates to invest upto Rs 992 crore in Panacea Biotec. The investment proceeds will be used for a one-time settlement with existing lenders, general working capital and growth requirements of the Company.

This investment is structured by way of Non-Convertible Debentures (NCDs) of up to Rs 864 crore and subscription amount of Rs 32 crore towards share warrants to be allotted on a preferential basis. The subscription amount represents 25% of total amount of Rs 128 crore proposed to be raised upon issuance of equity shares against warrants. Subject to exercise of warrants, IndiaRF (along with its affiliates) will collectively end up owning 10.4% stake in the company on a fully diluted basis.

Panacea Biotec is a leading research based Biotechnology Company with established research, manufacturing and marketing capabilities. It is one of the largest vaccine producers and biotechnology companies in India.

Panacea Biotec Share Price

358.00 5.30 (1.50%)
17-Apr-2026 16:59 View Price Chart
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