Poonawalla Fincorp Limited in its board meeting approved sale of its housing subsidiary Poonawalla Housing Finance Limited to TPG (Perseus SG Pte. Ltd., an entity affiliated with TPG Global, LLC) at a valuation of INR 3,900 Crores, subject to regulatory approvals. The transaction will maximize the shareholders’ value in the long term as Poonawalla Fincorp…
Biocon Biologics Limited (BBL), a subsidiary of Biocon Ltd. and Serum Institute Life Sciences Private Limited (SILS), a subsidiary of Serum Institute of India Pvt. Ltd. announced a strategic alliance. Under the terms of the agreement, BBL will offer approximately 15% stake to SILS, at a post-money valuation of ~$4.9 billion, for which it will…
Magma Fincorp Limited, a Mumbai-based non-deposit taking non-banking finance Company (NBFC), announced a series of leadership changes following the Poonawala-controlled Rising Sun Holdings acquiring controlling stake through an equity infusion of Rs 3,456 crore in May 2021. The Board, on Monday, appointed Adar Poonawalla as the Chairman of the Company. The Company has also appointed…
Wellness Forever, a ‘Lifestyle Retail Pharmacy Chain’ which focuses on the complete wellness of its customers, announced it has raised Rs 130 crore in funding from Serum Institute CEO Adar Poonawalla and UAE-based Allana Group. Founded in 2008, the startup has been backed by the Allana Group, Patni Group, Poonawalla Group & Thakral Corporation. “We…
Novavax, a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, announced an amendment to its existing agreement with Serum Institute of India Private Limited (SIIPL) under which SIIPL will also manufacture the antigen component of NVX‑CoV2373, Novavax’ COVID‑19 vaccine candidate. With this agreement, Novavax increases its manufacturing capacity of NVX-CoV2373 to over two…
JetSynthesys, a Pune-based digital entertainment and technology company and part of the Navani family owned JetLine Group of Companies, announced that it has raised Rs 300 crore from existing shareholders to strengthen its gaming and digital entertainment offerings and interest-based social community platforms. Investors that took part in the funding round include Kris Gopalakrishnan, the…
h2e Power, a Pune and New York-based clean technology startup, backed by Serum Institute of India CEO Adar Poonawalla, announced that it has fully acquired Hexis AG, a Swiss fuel cell company. Financial details of the transaction remain undisclosed. h2e Power said in a statement, it has acquired Hexis through its German subsidiary, mPower GmBH,…
Codagenix, a clinical-stage biotechnology company developing prophylactic vaccines and oncolytic virus therapies, announced a collaboration with the Serum Institute of India to rapidly co-develop a live-attenuated vaccine against the emergent coronavirus. There are no licensed vaccines or therapeutics for this novel coronavirus, now referred to as COVID-19. A live-attenuated vaccine has multiple advantages, including mounting…