Hyderabad-based Aurobindo Pharma Ltd. is looking at raising aroind $500 million fund to buy two companies in Europe. According to DealCurry fundraising could be a combination of foreign currency convertible bonds and private equity to the tune of $300 million and $200 million respectively.
Aurobindo Pharma is currently in talks for buying a Spain and the UK companies. The planned acquisitions will help the company increase its revenue to $3 billion in two years from the currently reported $2.1 billion in fiscal 2016.
Recently, Aurobindo Pharma has submitted its bid for Israeli majors Teva's UK and Irish portfolios.