Biocon Ltd has successfully completed a Qualified Institutional Placement (QIP), raising Rs 4,150 crore by issuing over 11.26 crore equity shares at Rs 368.35 per share to eligible institutional investors. 

The fundraise, which opened on January 12 and closed on January 14, drew strong demand from a diverse group of about 39 domestic and international investors, including major mutual funds such as SBI Mutual Fund, ICICI Prudential Mutual Fund, and Mirae Asset Mutual Fund. 

The company said it will primarily use the proceeds to pay the cash consideration to acquire Mylan Inc.’s stake in Biocon Biologics Ltd, helping Biocon make the unit a fully owned subsidiary by completing integration no later than March 31, 2026. Part of the money will also go toward repaying debt taken for this acquisition, as well as for general corporate purposes. 

Biocon’s successful QIP reflects strong investor confidence in its growth outlook, especially as it seeks to expand its position in biosimilars, insulins, generics and other therapeutic areas, including diabetes, oncology and immunology.

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