Biocon concludes Rs 4,150 crore QIP; SBI Mutual Fund among 39 investors
Biocon said the proceeds would be primarily used to meet the cash consideration payable to Mylan Inc, now Viatris, for the acquisition of its shareholding in Biocon Biologics Ltd.
- Jan 15, 2026,
- Updated Jan 15, 2026 9:24 AM IST
Biocon Ltd said it had concluded a Qualified Institutions Placement, raising Rs 4,150 crore through the issuance of equity shares to eligible qualified institutional buyers.
The Bengaluru-based biopharmaceutical company said it issued 1,12,664,585 equity shares with a face value of Rs 5 each at an issue price of Rs 368.35 per share, including a premium of Rs 363.35 per share. The fundraise was equivalent to about $460 million.
The QIP opened on January 12, 2026, and closed on January 14, 2026. Biocon said the issue saw participation from 39 investors, with allocations made to all 39.
Biocon said the proceeds would be primarily used to meet the cash consideration payable to Mylan Inc, now Viatris, for the acquisition of its shareholding in Biocon Biologics Ltd, including repayment of debt availed for this purpose. Biocon had earlier said its board had approved the acquisition of all remaining minority shareholdings, including Viatris’ stake, which would result in Biocon Biologics becoming a wholly owned subsidiary.
Biocon said the integration process was expected to be completed no later than March 31, 2026.
The company said the QIP received participation from domestic mutual funds, domestic insurance companies and foreign institutional investors. Investors included SBI Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Birla Mutual Fund, HDFC Life Insurance, ICICI Prudential Life Insurance and JPMorgan Asset Management, among others.
Biocon said the net proceeds would also be used to repay debt availed for the acquisition of compulsory convertible debentures of Biocon Biologics held by Edelweiss, as well as for general corporate purposes.
The company said it had received shareholder approval for the fundraise at an extraordinary general meeting held on December 31, 2025. Kotak Mahindra Capital Company, HSBC Securities and Capital Markets India, J.P. Morgan India and Morgan Stanley India acted as book running lead managers to the issue.
Biocon Ltd said it had concluded a Qualified Institutions Placement, raising Rs 4,150 crore through the issuance of equity shares to eligible qualified institutional buyers.
The Bengaluru-based biopharmaceutical company said it issued 1,12,664,585 equity shares with a face value of Rs 5 each at an issue price of Rs 368.35 per share, including a premium of Rs 363.35 per share. The fundraise was equivalent to about $460 million.
The QIP opened on January 12, 2026, and closed on January 14, 2026. Biocon said the issue saw participation from 39 investors, with allocations made to all 39.
Biocon said the proceeds would be primarily used to meet the cash consideration payable to Mylan Inc, now Viatris, for the acquisition of its shareholding in Biocon Biologics Ltd, including repayment of debt availed for this purpose. Biocon had earlier said its board had approved the acquisition of all remaining minority shareholdings, including Viatris’ stake, which would result in Biocon Biologics becoming a wholly owned subsidiary.
Biocon said the integration process was expected to be completed no later than March 31, 2026.
The company said the QIP received participation from domestic mutual funds, domestic insurance companies and foreign institutional investors. Investors included SBI Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Birla Mutual Fund, HDFC Life Insurance, ICICI Prudential Life Insurance and JPMorgan Asset Management, among others.
Biocon said the net proceeds would also be used to repay debt availed for the acquisition of compulsory convertible debentures of Biocon Biologics held by Edelweiss, as well as for general corporate purposes.
The company said it had received shareholder approval for the fundraise at an extraordinary general meeting held on December 31, 2025. Kotak Mahindra Capital Company, HSBC Securities and Capital Markets India, J.P. Morgan India and Morgan Stanley India acted as book running lead managers to the issue.