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An update from Biocon Limited ( (IN:BIOCON) ) is now available.
Biocon Limited has raised Rs 4,150 crore (approximately USD 460 million) via a Qualified Institutions Placement, issuing over 112.6 million equity shares at Rs 368.35 each to a broad base of domestic and international institutional investors, including major mutual funds and insurance companies, underscoring strong market confidence in its business model and growth prospects. The company will use the proceeds primarily to finance the buyout of Mylan Inc.’s (Viatris) remaining stake and other minority holdings in Biocon Biologics, repay related acquisition debt and CCD-linked borrowings, and for general corporate purposes, paving the way for Biocon Biologics to become a wholly owned subsidiary by March 31, 2026 and strengthening Biocon’s strategic push in diabetes, oncology and immunology through an integrated biosimilars and generics platform.
More about Biocon Limited
Biocon Limited is an innovation-led global biopharmaceutical company based in Bengaluru, India, focused on developing and manufacturing biosimilars, insulins, generics and peptide therapies (including GLP-1s) across key therapeutic areas such as diabetes, oncology and immunology, serving both domestic and international markets.
Average Trading Volume: 147,947
Technical Sentiment Signal: Buy
Current Market Cap: 496.5B INR
See more data about BIOCON stock on TipRanks’ Stock Analysis page.