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True North to invest Rs 536 crore in Biocon Biologics for 2.4 pc stake

True North to invest Rs 536 crore in Biocon Biologics for 2.4 pc stake

Tuesday, January 7, 2020, 7:54 PM

Biopharmaceuticals major Biocon said on Monday the board of its subsidiary Biocon Biologics has approved a primary equity investment by True North which will invest Rs 536.25 crore to pick 2.44% minority stake in the biosimilars business. Post all restructuring, including the filed merger of Biocon Research with Biocon Biologics, this values Biocon Biologics at Rs 21,450 crore on a pre-money equity basis.
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