Biocon completes raising Rs 4,500 cr via QIP

New Delhi, Jun 20 (PTI) Biocon Ltd on Friday said it has completed raising of Rs 4,500 crore through Qualified Institutions Placement (QIP).

The company has successfully issued over 13.63 crore equity shares of face value Rs 5 each to eligible qualified institutional buyers at the issue price of Rs 330 per equity share, including a premium of Rs 325 per share, Biocon Ltd said in a regulatory filing.

The QIP, which was opened from June 16-19 2025, witnessed robust investor interest from a diverse group of domestic and international investors, underscoring strong confidence in Biocon's growth prospects, it added.

"The strong response to our QIP reflects deep investor conviction in Biocon's differentiated strategy and consistent execution," Biocon Ltd CEO and Managing Director Siddharth Mittal said.

He further said, "This capital raise further strengthens our balance sheet, enabling us to invest in innovation, expand global access to lifesaving biopharmaceuticals, and advance our purpose of delivering affordable healthcare solutiŸons that address pressing health inequitiŸes worldwide." This is the first equity fundraise done by Biocon since its IPO in 2004.

Biocon said the proceeds from the QIP will be utilised for purchase of outstanding optionally convertible debentures issued by its subsidiary, Biocon Biologics Limited, from Goldman Sachs India AIF Scheme - 1 and Goldman Sachs India Alternative Investment Trust AIF Scheme - 2.

The capital raised will also be used for repayment, pre-payment or redemption, in full or in part, of certain outstanding financial instruments issued and borrowings availed by the company, and/or meeting other financial commitments, besides general corporate purposes. PTI RKL SHW