Latest news with #Biocon
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Business Standard
8 hours ago
- Business
- Business Standard
Biocon closes ₹4,500 crore QIP to boost innovation, expand global access
Biocon Ltd announced on Friday that it has successfully raised ₹4,500 crore through a qualified institutions placement (QIP), marking its first equity fundraising since its initial public offering in 2004. In a regulatory filing, the company stated it had issued over 136.3 million equity shares, each with a face value of ₹5, to eligible institutional investors. The shares were priced at ₹330 per unit, which includes a premium of ₹325. The QIP was open from June 16 to 19, 2025, and received strong interest from both Indian and global investors. Biocon said this response reflects growing confidence in the company's long-term strategic vision. Capital to support innovation and access to affordable healthcare 'The strong response to our QIP reflects deep investor conviction in Biocon's differentiated strategy and consistent execution,' said Siddharth Mittal, CEO and Managing Director of Biocon Ltd. '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 solutions that address pressing health inequities worldwide,' Mittal added. Proceeds allocated for strategic and financial needs Biocon stated that part of the capital raised will be used to purchase outstanding optionally convertible debentures of its subsidiary, Biocon Biologics Limited, from Goldman Sachs India AIF Scheme - 1 and Goldman Sachs India Alternative Investment Trust AIF Scheme - 2. Additionally, the funds will be used to repay, pre-pay, or redeem certain borrowings and financial instruments, and meet other financial requirements, including general corporate expenses.
The Hindu
9 hours ago
- Business
- The Hindu
Biocon raises ₹4,500 crore through QIP
Biocon said it completed its Qualified Institutions Placement (QIP) and raised ₹4,500 crore through the issuance of 13,63,63,635 equity shares of face value ₹5 each to eligible qualified institutional buyers at the issue price of ₹330 per equity share (including a premium of ₹325 per equity share). The QIP, which opened on June 16 and closed on June 19, witnessed robust investor interest from a diverse group of domestic and international investors, underscoring strong confidence in Biocon's growth prospects, said the company on Friday. Siddharth Mittal, CEO and Managing Director, Biocon Limited, said, 'The strong response to our QIP reflects deep investor conviction in Biocon's differentiated strategy and consistent execution. 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 solutions that address pressing health inequities worldwide.' According to the company, this fundraise, the first equity fundraise done by Biocon since its IPO in 2004, demonstrates the company's access to a diversified equity pool of capital. The final order book was well diversified in terms of investor type across domestic mutual funds, insurance companies and foreign institutional investors. Some of the leading names who participated in the issue included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Life Insurance, Nippon India Mutual Fund, Mirae Asset Mutual Fund, Aditya Birla Mutual Fund, Franklin Templeton, SBI General Insurance, Government Pension Fund Global and Blackrock, the biotech firm further said. The proceeds from the QIP would be utilised towards purchase of outstanding optionally convertible debentures issued by Biocon Subsidiary, Biocon Biologics Limited, from Goldman Sachs India AIF Scheme - 1 and Goldman Sachs India Alternative Investment Trust AIF Scheme – 2. Also, proceeds would be used for repayment, pre-payment or redemption, in full or in part, of certain outstanding financial instruments issued and/or borrowings availed by the company, and/or meeting other financial commitments of the company; and for general corporate purposes, as per the company.
Business Standard
4 days ago
- Business
- Business Standard
Biocon launches QIP with floor price of Rs 340.20/share
Biocon informed that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 340.20 per equity share. The company's board authorized and declared the opening of the issue on Monday, 16 June 2025. The floor price of Rs 340.20 is at a discount of 4.79% to the scrips previous closing price of Rs 357.30 on the BSE. The company may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined in consultation with the book running lead managers appointed for the issue. Biocon is an innovation-led global biopharmaceutical company focused on improving affordable access to complex therapies for chronic conditions like diabetes, cancer, and autoimmune diseases. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets, as well as generic formulations in the U.S. and Europe The companys consolidated net profit surged 154.2% to Rs 344.50 crore on a 12.8% jump in net sales to Rs 4,358.10 crore in Q4 FY25 over Q4 FY24. The scrip rose 0.78% to currently trade at Rs 360.10 on the BSE.
Economic Times
4 days ago
- Business
- Economic Times
Biocon shares in focus after launching QIP at floor price of Rs 340.20
Live Events Biocon share price performance (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The shares of Biocon are expected to be in focus on Tuesday, June 17, after the company opened its Qualified Institutions Placement (QIP) issue on Monday, June 16. The company has set the floor price for the QIP at Rs 340.20 per equity share.'We wish to inform you that pursuant to the approval accorded by the Board of Directors of the Company (the 'Board'), at its meeting held on April 23, 2025, and the shareholders of the Company, pursuant to the special resolution passed through Postal Ballot on June 04, 2025, the Fund Raising Committee (the 'Committee') has at its meeting held today i.e. Monday, June 16, 2025, inter alia, passed the following resolutions: a. Authorizing the opening of the Issue today, i.e. Monday, June 16, 2025,' the company said in a regulatory decision follows approvals from the Board of Directors in April and shareholders via a postal ballot earlier this month. The Fund Raising Committee, in its meeting held on June 16, approved the opening of the issue, the floor price, and the preliminary placement document dated the same informed that the company will determine the issue price in consultation with the Book Running Lead Managers appointed in relation to the the past year, the Biocon stock has gained 6.77%, while it is up 1.03% over the last 6 months. In the most recent 3-month period, the stock has risen by 10.65%, and over the past 1 month, it is up 5.24%. However, on a year-to-date (YTD) basis, the stock has declined by 3.12%. Biocon shares closed 0.5% higher at Rs 357.30 on the BSE on Monday.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
4 days ago
- Business
- Time of India
Biocon shares in focus after launching QIP at floor price of Rs 340.20
Biocon shares: The decision comes after receiving approvals from the Board of Directors in April and from shareholders through a postal ballot earlier this month. On June 16, the Fund Raising Committee approved the issue's opening, set the floor price, and finalized the preliminary placement document dated the same day. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Biocon share price performance The shares of Biocon are expected to be in focus on Tuesday, June 17, after the company opened its Qualified Institutions Placement (QIP) issue on Monday, June 16. The company has set the floor price for the QIP at Rs 340.20 per equity share.'We wish to inform you that pursuant to the approval accorded by the Board of Directors of the Company (the 'Board'), at its meeting held on April 23, 2025, and the shareholders of the Company, pursuant to the special resolution passed through Postal Ballot on June 04, 2025, the Fund Raising Committee (the 'Committee') has at its meeting held today i.e. Monday, June 16, 2025, inter alia, passed the following resolutions: a. Authorizing the opening of the Issue today, i.e. Monday, June 16, 2025,' the company said in a regulatory decision follows approvals from the Board of Directors in April and shareholders via a postal ballot earlier this month. The Fund Raising Committee, in its meeting held on June 16, approved the opening of the issue, the floor price, and the preliminary placement document dated the same informed that the company will determine the issue price in consultation with the Book Running Lead Managers appointed in relation to the the past year, the Biocon stock has gained 6.77%, while it is up 1.03% over the last 6 months. In the most recent 3-month period, the stock has risen by 10.65%, and over the past 1 month, it is up 5.24%. However, on a year-to-date (YTD) basis, the stock has declined by 3.12%. Biocon shares closed 0.5% higher at Rs 357.30 on the BSE on Monday.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
