Key Points
Five global private equity firms - Warburg Pincus, Permira, EQT, Bain and TPG - have conveyed their interest to join the bidding process for Bharat Serums and Vaccines (BSV), which has been put on the block by its existing owners, who are seeking over $1 billion for the company, according to sources close to the development...
The private equity (PE) firms will sign expressions of interest papers in two weeks, after which they will formally start due diligence on the company, though they have already done some spadework, according to the people...
The Mumbai-headquartered biopharmaceuticals company was acquired by US-based investor Advent International from its previous owners, the Daftary family, for an undisclosed sum in 2019..
In the past, pharmaceutical companies such as Mylan (now known as Viatris), Cadila Health and Mankind Pharma have been named as possible suitors for BSV when the Daftary's were looking to exit the company and before Advent acquired it...
"The company's consolidated revenues grew by 15% in FY2023 to 1,435.4 crore (provisional) on the back of significant traction in the women's health and assisted reproductive segments," Icra had said in a September 11 note...
