India: True North to buy 2.4% stake in Biocon Biologics at $3b valuation

Biocon Chairperson Kiran Mazumdar-Shaw. Photo: Reuters

Indian biopharmaceutical major Biocon Biologics on Monday said that private equity fund True North will acquire a 2.44% stake in the company for ₹536.25 crore, or around $75 million.

The infusion of fresh equity will happen at a valuation of around ₹21,450 crore, or about $3 billion.

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