Biocon Raises ₹4150 Crore via QIP to Acquire Biocon Biologics Stake

• Biocon Limited successfully raised ₹4150 crore through a Qualified Institutional Placement (QIP).
• The QIP involved issuing 11.26 crore equity shares at ₹368.35 per share to eligible institutions.
• Funds from SBI, ICICI, and Mirae Mutual Fund received approximately two-thirds of the reserved QIP shares.
• The proceeds will primarily be used to acquire the remaining stake in Biocon Biologics from Mylan Inc. (Viatris) for US$815 million (US$400M cash, US$415M share swap).
• Biocon aims to fully integrate Biocon Biologics by March 31, 2026, making it a 100% owned subsidiary, valuing the unit at US$5.5 billion.

Why It Matters: Biocon secured ₹4150 crore via QIP to fund the acquisition of Biocon Biologics, aiming for full integration.