The Maharashtra Industrial Development Corporation (MIDC) will be picking up a stake of around 11 per cent in the proposed biotechnology park at Hinjawadi, near Pune in lieu of the land that it contributes to the project.
The project will be implemented through a special purpose vehicle (SPV) in which MIDC will pick up the equity, sources familiar with the development said. The balance 89 per cent equity in the SPV will beheld by a single developer or a consortium of companies A number of biotechnology companies, pharmaceutical, logistics and equipment companies. have evinced interest in the stake.
Ernst & Young (E&Y) and Rabo India Finance , have been jointly mandated a few months ago to scout for equity partners in the project. They are invite
