BUSINESS

Biocon kicks off IPO road show

BANGALORE, FEB. 26. Biocon, enzymes and bulk drug maker, kicked off its IPO road show here on Thursday, with the Chairman and Managing Director, Kiran Mazumdar Shaw, asserting the company was on a `strong growth path.' Biocon, now earning much of its revenues from bulk manufacturing of industrial enzymes and a group of chemicals called statins, would become a bio-pharmaceutical products driven company in the coming years, Ms. Shaw told reporters here.

The proceeds of the IPO, slated to run from March 11 to 18, would be used to expand facilities for making the enzymes and statins, Ms. Shaw said.

In the next three to five years, however, the company would be bringing more products to the market.