Biocon concludes QIP issue of Rs 4,150 cr

Biocon 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 12 January 2026, and closed on 14 January 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, 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.

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