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Exclusive | Goldman Sachs Private Equity in talks to buy minority stake in IPO-bound Biocon Biologics

If the deal — which may value the firm in excess of $3.5 billion — fructifies, it would mark the third successive investment in 2020 for Kiran Mazumdar Shaw-led Biocon Biologics

October 02, 2020 / 05:04 PM IST

The private equity arm of Wall Street powerhouse Goldman Sachs is in talks to buy a minority stake in Biocon Biologics, India’s top pure-play biosimilar firm, people familiar with the matter told Moneycontrol

Biocon Biologics is a division of Kiran Mazumdar Shaw-led Biocon and is due to launch an initial public offering (IPO).

If the deal fructifies, it would mark the third successive investment for Biocon Biologics in 2020. Private equity player True North and Tata Capital Growth Fund previously invested in the company, the last deal earning Biocon Biologics a pre-money equity valuation of $3.5 billion.