Biocon Limited has raised Rs 4150 crore through Qualified Institutional Placement (QIP). The company’s board has approved the issue of 11.26 crore equity shares of face value Rs 5 each to eligible institutions. The price for QIP has been fixed at Rs 368.35 per share. Funds from SBI, ICICI and Mirae Mutual Fund have been issued about two-thirds of the reserved shares for the QIP.
Following the share issue, Biocon’s total paid-up equity share capital now stands at Rs 810.45 crore. This includes 162.09 crore shares. The first paid-up equity share capital was Rs 754.12 crore, consisting of 150.82 crore shares. Through the earnings from this QIP, Biocon, Mylan Inc. Will buy shares of Biocon Biologics from Rs.
Biocon had said in December 2025 that it would merge Biocon Biologics with itself and create a 100 percent owned subsidiary. The move will take the valuation of the biologics unit to US$5.5 billion. As part of the transaction, the company will swap shares. With this, it will acquire the remaining stake in Biocon Biologics Ltd from Mylan Inc, Serum Institute Life Sciences, Tata Capital Growth Fund II and Active Pine LLP.
How much will it cost to purchase from Mylan?
Biocon will acquire the remaining stake in the biologics unit of Mylan Inc (Viatris) for a total consideration of US$815 million. Of this, US$400 million will be paid in cash and US$415 million will be paid through share swap. Share swap is a corporate finance deal. In this, a company buys another company or merges it with itself by issuing its shares to the shareholders of the target company in exchange for their existing shares.
share-swap ratio
Biocon had said that the share-swap ratio has been fixed at 70.28 shares of Biocon for every 100 shares of Biocon Biologics. In this, the price of each share of Biocon is Rs 405.78. This integration will help Biocon leverage the combined strengths of its generics and biosimilar businesses in different countries. Biocon Biologics is one of the top 5 global biosimilar companies by revenue. The integration process is expected to be completed by March 31, 2026.
QIP money will be used here also
Biocon will also use a part of its QIP proceeds to purchase Compulsory Convertible Debentures (CCDs) of Biocon Biologics, to repay debt and for general corporate purposes. The market cap of Biocon is more than Rs 57100 crore. The promoters held 48.27 percent stake in the company as of January 5, 2026. Biocon shares closed at Rs 379.05 on BSE on January 14. Stock markets are closed on January 15 due to municipal elections in Maharashtra. The stock has risen 8 percent in 3 months.