Biocon has raised ₹4,150 crore through a qualified institutions placement (QIP), underscoring strong investor appetite for the company’s equity amid a major restructuring of its biologics business.
The Bengaluru-based biotechnology firm issued about 112.7 million equity shares with a face value of ₹5 each at an issue price of ₹368.35 per share. The QIP opened on January 12 and closed on January 14, drawing participation from a wide pool of domestic and international institutional investors.
According to the company, the funds raised will be largely used to meet the cash consideration payable to Mylan Inc., now part of Viatris, for the acquisition of its remaining stake in Biocon Biologics Ltd. A portion of the proceeds will also be directed towards repaying debt incurred for this transaction.
The fundraising follows Biocon’s recent announcement that its board has approved the acquisition of all outstanding minority shareholdings in Biocon Biologics, including the stake held by Viatris. Once completed, the transaction will make Biocon Biologics a wholly owned subsidiary of Biocon.
The consolidation of ownership marks a significant strategic milestone, strengthening its position in key therapeutic areas such as diabetes, oncology and immunology. The company aims to scale its differentiated portfolio spanning biosimilars, insulins, generics and peptide-based therapies, including GLP-1 products.
The integration of Biocon Biologics into the parent company is expected to be completed by March 31, 2026. Shares of Biocon were trading marginally higher on the BSE following the announcement.
