Biocon’s subsidiary -- Biocon Biologics (BBL) has received approval from its board for a primary equity investment by Abu Dhabi based ADQ (ADQ), one of the region’s largest holding companies. As per the terms of the proposed agreement, ADQ will invest Rs 555 crore for a 1.80% minority stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of around $4.17 billion.
The transaction is subject to customary condition precedents and approvals. Post the completion of this transaction, Biocon will hold 89.89% stake in Biocon Biologics on a fully diluted basis.
Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.
