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Vaccine developer Bharat Biotech International Ltd is exploring to raise over $500 million through an initial public offering, according to a Bloomberg report citing people familiar with the matter.

Discussions are still in progress, and the specifics of the deal, such as its size and timing, might be changed, people said, asking not to be identified to discuss a private matter.

Founded in 1996, Bharat Biotech claims to have distributed over 9 billion vaccines globally, the report said. Its portfolio includes vaccines for Covid-19 and hepatitis B, along with treatments for burns and diarrhoea.

(More to come…)

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