Bharat Biotech mulls IPO to raise over $500 million
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New Delhi: The developer of Covid-19 vaccine Covaxin, Bharat Biotech is considering an initial public offering that could raise over $500 million, according to sources cited by multiple reports.
Discussions are underway including key aspects of the proposed share sale, including size and timing, they said.
Bharat Biotech plans Rs 200–250 crore of capital expenditure in FY26 for a large vaccine manufacturing facility being developed under Sapigen Biologix Pvt Ltd in Bhubaneswar, Odisha, partly financed through debt raised from financial institutions.
The Hyderabad based vaccine maker, founded in 1996 and promoted by Dr Krishna Ella, has supplied over 9 billion vaccine doses globally and remains entirely promoter owned as of July 31, 2025.
