Biocon Limited, after the successful IPO, is planning to set up a new facility at the Shappoorji Pallonji Biotech Park in Hyderabad. The new facility, which is likely to be a research service outsourcing set up, is part of its expansion plans in the near future.

Though the investment details are yet to be disclosed, the company sources confirmed that the company's decision to expand to Hyderabad is final now. "There are concrete plans to have a facility outside Karnataka and we are looking at Hyderabad. However, the expansion to the city is not immediate and we are not in a position to provide a time frame or the investment structure right now, said Murali Krishnan, director (Finance), Biocon Limited.

Currently, the company has gone in for a major investment of Rs 650 crore manufacturing facility located Bommisandra, which is close to the present facility at Hebbagodi. The company would also recruit an additional 500 workforce before end of this year. Out of the 500 fresh personnel, 100 would be in the area of sales and marketing and 100 for its subsidiaries Syngene & Clinigene. Another 300 would be inducted in the new plants and R&D units.