trending Market Intelligence /marketintelligence/en/news-insights/trending/U1XFOmEdi7DJ2nn-I3Dphg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Report: India's True North invests $100M in Biocon Biologics

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


Report: India's True North invests $100M in Biocon Biologics

Indian private equity fund True North acquired a 3% stake in biopharmaceutical company Biocon Biologics India Ltd. for $100 million, The Economic Times (India) said, citing two people aware of the development.

The investment is the first stage of a larger $200 million to $300 million fundraising round expected to close in the first half of 2020, and is the first stake sale in Biocon Biologics since its formation in 2017. The wholly owned subsidiary is now valued at 250 billion Indian rupees, or about $3.5 billion, the report said.

The parent company is also in discussions with global investors including the Singapore government's Temasek Holdings and the UK government's investment unit CDC for subsequent funding rounds, in which True North may also participate, the publication said, citing one of the sources.

A True North spokesperson declined to comment, while Biocon, Temasek and CDC Group did not respond to queries by The Economic Times (India).

As of Jan. 3, US$1 was equivalent to 71.78 Indian rupees.