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Bharat Serum plans IPO to raise Rs 2,000 crore

NEW DELHI: Kotak Private Equity Group-backed Bharat Serum an..

NEW DELHI: Kotak Private Equity Group-backed Bharat Serum and Vaccines Limited is planning to raise Rs 2,000 crore by offloading about 30% stake in an initial public offering of shares, people aware of the matter told ET. The planned flotation would value the company at about Rs 6,667 crore or more than $1 billion if investor appetite matches price expectations.

The private equity investor could offload a major part of its holding through the IPO, said one of the persons, who did not wish to be identified. The company is targeting the first quarter of 2018-19 for the IPO, the person said.

Kotak Private Equity Group owns almost a fourth of the company while OrbiMed Advisors, another financial investor, owns about 10% stake.

The vaccine maker has appointed investment bank Jefferies & Co. to arrange the share sale, the people said.

Original Article


ET Markets


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