Equity Investment By ADQ got approved worth Rs  555crore

Equity Investment By ADQ got approved worth Rs 555crore

On Thursday, Biocon Limited announced that its subsidiary, Biocon Biologics Ltd, has approved a primary equity investment by ADQ, one of the largest holding companies in the country, based in Abu Dhabi. ADQ will invest Rs 555 Crore for a 1.80 percent minority stake in the biosimilar company under the terms of the proposed agreement, valuing Biocon Biologics at a post cash value of USD 4.17 billion. The deal of equity investment, the company said, is subject to customary precedents and approvals.

Biocon Ltd NSE will retain 89.89 percent of the stake in Biocon Biologics on a completely diluted basis after the completion of this deal of equity investment, it added.

ADQ was welcomed in the form of an investment partner by Biocon, as the company pursues its shared goal of expanding access to high-quality affordable biopharmaceuticals to patients across the globe. We get to know as per the statement by Kiran Mazumdar-Shaw, Executive Chairman, Biocon.

According to some statements, the current investment places Biocon Biologics’ post-money value at USD 4.17 billion.

Our long-term ambition for the health and pharmaceutical portfolio of ADQs is to create a digitally enhanced, provision-centered ecosystem that is anchored in world-class clinical excellence, effective population health management, and resilient infrastructure in the supply chain said Mohamed Hassan Alsuwaidi, Cheif executive officer of ADQ.

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