Overview
- Biocon will acquire minority holdings in Biocon Biologics via a swap of 70.28 Biocon shares for every 100 BBL shares at a not-less-than Rs 405.78, valuing BBL at $5.5 billion.
- To purchase Viatris’ stake, Biocon will pay $400 million in cash and issue $415 million of new Biocon shares that carry a six-month lockup.
- The board cleared funding of up to Rs 4,500 crore through QIP or other routes and up to Rs 1,800 crore in commercial paper to meet the cash requirement.
- A preferential share issue of up to Rs 6,950 crore will discharge the non-cash swap consideration owed to selling shareholders.
- The transaction is expected to close in Q1 2026 and the integration is targeted by March 31, 2026, pending shareholder and regulatory approvals.