Bengaluru, Aug 1 (TIWN) Tata Capital Growth Fund will invest Rs 225 crore in Biocon Biologics India Ltd for an equity stake of 0.85 per cent.

The firm said this deal values Biocon Biologics at USD 3.5 billion.

In a regulatory filing, Biocon said the board of its subsidiary Biocon Biologics India has approved a primary equity investment by Tata Capital Growth Fund.

As per the terms of the proposed agreement, Tata Capital will invest USD 30 million ( â‚¹225 crore) for a 0.85 per cent minority stake in the biosimilar business.

Post the completion of this transaction, Biocon will hold 95.25 per cent stake in Biocon Biologics, the biotechnology major added.