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Biocon gains 2% after arm gets Rs 555 crore capital injection from ADQ

ADQ will invest Rs 555 Crore for a 1.80 per cent minority stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of around $4.17 billion

Biocon likely to channelise investments towards non-insulin biologics

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Post the completion of this transaction, Biocon will hold 89.89 per cent stake in Biocon Biologics on a fully diluted basis

SI Reporter Mumbai

2 min read Last Updated : Jan 08 2021 | 9:46 AM IST

Shares of Biocon climbed 2 per cent to Rs 466 on the BSE on Friday after the company announced that the board of its subsidiary Biocon Biologics has approved 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 per cent minority stake in the biosimilar business, valuing Biocon Biologics at a post money valuation of around $4.17 billion, the company said in press release.

Post the completion of this transaction, Biocon will hold

Topics : Biocon Buzzing stocks Markets

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