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Mankind Pharma in fray to acquire Advent's stake in Bharat Serums: Report
- By Newsdesk
- New Delhi
- May 15, 2024
Media reports suggest that New Delhi-based Mankind Pharma is in discussions to acquire Bharat Serums and Vaccines (BSV), a biopharma company based in Mumbai, from private equity firm Advent PE. Advent is reportedly aiming for a $2 billion valuation for its full ownership of BSV.
The report indicates that Advent is planning to sell its stake in BSV, which specializes in women's health, critical care, emergency medicines, and assisted reproductive therapies. Business Standard could not confirm this information before publication.
On Tuesday, Mankind Pharma's stock rose by 3.11 per cent on the Bombay Stock Exchange.
Inquiries sent to Mankind Pharma and BSV remained unanswered at the time of publication. Advent PE declined to comment. BSV is expected to achieve earnings before interest, taxes, depreciation, and amortization of Rs 500 crore by the end of FY24 and Rs 650 crore by the end of FY25.