Biocon Ltd Completes Acquisition of Equity Shares in Biocon Biologics Limited for USD 200 Million
Biocon Ltd has completed the acquisition of 7,18,34,691 equity shares of Biocon Biologics Limited (BBL) from Mylan Inc. for a cash consideration of USD 200 million. This acquisition is part of the overall approval by the Board to acquire 26,19,17,480 equity shares of BBL from various allottees, including Mylan, Serum Institute Life Sciences Private Limited, Tata Capital Growth Fund II, and Activ Pine LLP. Post the acquisition, Biocon Ltd holds approximately 94% of the paid-up equity share capital of BBL on a fully diluted basis. The equity shares allotted to the allottees rank pari-passu with the existing equity shares of the Company. The issued, subscribed, and paid-up equity share capital of the Company has increased from Rs. 6,68,48,18,175/- to Rs. 7,54,12,15,940/-.
Key Highlights
- Biocon Ltd completes acquisition of 7,18,34,691 equity shares of Biocon Biologics Limited from Mylan Inc. for USD 200 million.
- Post acquisition, Biocon Ltd holds approximately 94% of the paid-up equity share capital of BBL on a fully diluted basis.
- The equity shares allotted to the allottees rank pari-passu with the existing equity shares of the Company.
- The issued, subscribed, and paid-up equity share capital of the Company increases from Rs. 6,68,48,18,175/- to Rs. 7,54,12,15,940/-.
- Biocon Ltd has completed acquisition of 33,37,52,171 equity shares of BBL, holding ~94% of the paid-up equity share capital of BBL on a fully diluted basis.