Indian vaccine developer Bharat Biotech International Ltd. is considering an initial public offering that may raise more than $500 million, according to people familiar with the matter.
Deliberations are ongoing, and details of the deal including the size and timing may change, the people added, asking not to be identified to discuss a private matter. Bharat Biotech didn’t immediately respond to a request for comment.
Founded in 1996, Bharat Biotech says it has delivered more than 9 billion vaccines worldwide. Its products include vaccines for Covid-19 and hepatitis B, as well as remedies for burns and diarrhea.
India’s market for first-time share sales has had a slow start to 2026 after two consecutive years of record fundraising. Stocks have been pressured by slowing earnings growth, global trade uncertainty and uneven foreign inflows. Large offerings in the pipeline include those of wireless carrier Jio Platforms Ltd., National Stock Exchange of India Ltd. and property firms.
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