Bengaluru: Biocon Limited (BSE code: 532523, NSE: BIOCON), an innovation-led global biopharmaceutical company, today announced the successful completion of a Qualified Institutions Placement (QIP), raising Rs 4,150 crore (~USD 460 million) through the issuance of 112,664,585 equity shares of face value Rs 5 each to eligible qualified institutional buyers at the issue price of Rs 368.35 per Equity Share (including a premium of Rs 363.35 per Equity Share).
The QIP, which opened on January 12, 2026, and closed on January 14, 2026, attracted strong investor interest from a broad mix of domestic and international participants, 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. Biocon recently announced that its Board of Directors had approved a strategic corporate action to acquire all remaining minority shareholdings, including Viatris’ stake, thereby making Biocon Biologics a wholly owned subsidiary of the Company.
This integration marks a pivotal step in Biocon’s journey to lead in the therapeutic areas of diabetes, oncology, and immunology through a differentiated portfolio of biosimilars, insulins, generics and peptides (GLP-1s). The integration process is expected to be completed no later than March 31, 2026.
Key Transaction Highlights:
• QIP saw healthy interest from all pools of capital across Domestic Mutual Funds (“MFs”), Domestic Insurance Companies, and Foreign Institutional Investors (“FIIs”) – highlighting investor’s confidence in Biocon’s differentiated business model and growth potential of the combined business.
• Witnessed interest from 39 investors and allocations to all 39 investors.
• Robust participation from leading financial institutions including SBI Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Birla Mutual Fund, HDFC Life Insurance, ICICI Prudential Life Insurance, JPMorgan Asset Management, among others.
The net proceeds from the QIP will be utilized for:
• Payment of cash consideration to Mylan Inc. (Viatris) for acquisition of shares of Biocon Biologics
Limited, including repayment of debt availed in this regard.
• Re-payment of debt availed, for the acquisition of compulsory convertible debentures (CCDs) of
Biocon Biologics Limited, held by Edelweiss.
• General corporate purposes.
The Company received shareholders’ approval for the fundraise at the Extra-Ordinary General Meeting held on December 31, 2025.
Book Running Lead Managers and Legal Counsels: 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 acted as Book Running Lead Managers to the QIP. Shardul Amarchand Mangaldas & Co. was the Legal Counsel to the Company while Linklaters Singapore Pte. Ltd. and JSA Advocates & Solicitors were the Legal Counsels to the Book Running Lead Managers.
