Biocon - Kiran Mazumdar Shaw's Entrepreneurial Dream
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"If I can build a company like Biocon, anyone can… The first step was to dream however big or small…. If you have a vision, no matter how big or small, a plan, no matter if it is imperfect, but if there is passion and conviction for it, success is inevitable."1
- Kiran Mazumdar Shaw, Managing Director,
Businesswoman of the Year 2004
She founded Biocon as an enzyme extraction company in a rented garage in 1978. By 2004, Biocon had emerged as the #1 biotech company in Asia, and #16 in the world in terms of revenues and market capitalization. The company made its initial offer of shares to the public in March 2004. The shareholders earned handsome returns on their investments as the stock, which was offered at Rs 315, touched a high of Rs 780 in early November 2004 (Refer Exhibit II for the stock price chart of the company). Reportedly, Kiran had to break through the 'glass ceiling' effect on several occasions being a woman entrepreneur in the traditional Indian society.
1] 'Dream a Dream,' Kiran Mazumdar Shaw's
Inaugural Speech at the ET Club, The Economic Times, August 13, 2004.
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