Overview
- Biocon raised Rs 4,150 crore by issuing 112,664,585 equity shares at Rs 368.35 each to qualified institutional buyers.
- The placement opened on January 12 and closed on January 14, with allocations made to all 39 participating investors.
- Participants included major domestic mutual funds and insurers such as SBI Mutual Fund, ICICI Prudential, and HDFC Life alongside JPMorgan Asset Management.
- Funds will primarily cover the cash consideration payable to Mylan/Viatris for its minority stake in Biocon Biologics, with additional repayment of related borrowings.
- Net proceeds will also address debt linked to Edelweiss-held compulsory convertible debentures, following shareholder approval granted on December 31, 2025, with Kotak, HSBC, J.P. Morgan, and Morgan Stanley as lead managers.