Biocon Limited Raises Rs 4,150 Crore (~USD 460 Million) through a Qualified Institutions Placement (QIP)

Biocon Limited, an innovation-led global biopharmaceutical company, has successfully completed a Qualified Institutions Placement (QIP), raising Rs 4,150 crore (~USD 460 million) through the issuance of equity shares. The QIP saw healthy interest from all pools of capital, reflecting robust confidence in Biocon’s growth prospects. The proceeds from the QIP will be primarily utilized to meet the cash consideration payable to Mylan Inc. (Viatris) for buying out its shareholding in Biocon Biologics Limited, including repayment of debt availed in this regard. The integration of Biocon Biologics Limited, making it a wholly owned subsidiary of the Company, is expected to be completed no later than March 31, 2026. The Book Running Lead Managers to the QIP were Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited and Morgan Stanley India Company Private Limited.