Biocon shares in focus after board opens up QIP fundraising on 16 June, sets floor price at ₹340.20/share
Biocon shares will be in focus of stock market investors after the company's board of directors announce the opening of the QIP (Qualified Institutional Placement) fundraising on 16 June 2025, according to an exchange filing.
'The Fund Raising Committee has at its meeting held today, i.e. Monday, June 16, 2025, authorizing the opening of the issue,' said Biocon in the BSE filing.
The pharma company also approved the floor price of the QIP issue to be at ₹ 340.20 per equity share. Biocon disclosed that the company has the ability to discount the offer further to not more than 5 per cent on the floor price of the QIP issue.
'The company may, at its discretion, offer a discount of not more than 5% on the floor price for the issue,' said Biocon in the exchange filing.
The firm will decide the issue price after consultation with the book-running lead managers appointed in relation to the case.
Biocon shares closed 0.52 per cent higher at ₹ 357.30 after Monday's stock market session, compared to ₹ 355.45 at the previous stock market close. The company announced the outcome of its board meeting after the market operating hours on 16 June 2025.
Shares of the pharmaceutical company have given investors more than 637.35 per cent since its listing in the Indian stock market in 2004. However, the shares lost 6.37 per cent in the last five years.
In the last one-year period, the stock has gained 8.71 per cent, and is trading 4.31 per cent higher in the last five stock market sessions.
Biocon shares hit their 52-week high level at ₹ 404.60 on 21 January 2025, and the 52-week low level was at ₹ 290.80 on 3 March 2025, according to data collected from the BSE website. The pharma company's market capitalisation (M-Cap) was at ₹ 42,897.44 crore as of the stock market close on Monday, 16 June 2025.
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