"Never Take 'no' for an Answer. Perseverance Pays"
Kiran Mazumdar-Shaw, Chairman & MD, Biocon
Biocon
- Feb 18, 2020,
- Updated Feb 20, 2020 3:33 PM IST
Instead of debt financing through long-term loans, I received equity funding of Rs 1.8 crore because they felt I needed more than Rs 1 crore to fully implement my technology. ICICI Bank took a 10 per cent stake in Biocon in 1988 and cashed out by selling the stake a year later to Unilever at four times the value and made me realise what value unlocking was all about!
Advertisement
Instead of debt financing through long-term loans, I received equity funding of Rs 1.8 crore because they felt I needed more than Rs 1 crore to fully implement my technology. ICICI Bank took a 10 per cent stake in Biocon in 1988 and cashed out by selling the stake a year later to Unilever at four times the value and made me realise what value unlocking was all about!
Advertisement
Read more!