Latest news with #BioconLtd
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Business Standard
a day 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.
Mint
2 days ago
- Business
- Mint
Stocks to trade today: Trade Brains Portal recommends two stocks for 20 June
Today, we recommend two stocks, one from the healthcare sector and the other from the railways sector. We also analyze the market's performance on Thursday to understand what may lie ahead for the stock indices in the coming days. Here are two stocks to trade today, as recommended by Trade Brains Portal Biocon Ltd (Current price: ₹349) Target price: ₹405 in 16-24 months Stop loss: ₹320 Why it's recommended: Founded in 1978, Biocon Ltd is the top biopharma firm in India, improving the lives of people in more than 120 countries by developing novel and cost-effective treatments for cancer, diabetes, and autoimmune diseases. The company employs more than 18,200 people who work in the research services, biosimilars, generics, and new biologics divisions. The largest integrated insulin manufacturing and research and development facility in Malaysia is operated by Biocon, which also contains one of the biggest biomanufacturing facilities for insulin, monoclonal antibodies, and devices. The group's four incubated businesses are Biocon Biologics, which focuses on biosimilars and accounts for 58% of total revenue in FY25; the generics division, which contributes 19%; and Syngene, which provides research services and accounts for 23% of total revenue in FY25. When comparing the performance on a like-for-like basis, revenue from operations totalled ₹15,262 crore, a 10% year-on-year increase; Ebitda reached ₹4,374 crore with a margin of 27%, and the net profit in FY25 was ₹1,013 crore, which represents a significant turnaround. The company has launched several new products, such as Liraglutide in the UK, Dasatinib in the US, and YesintekTM, which boosted revenue performance in Q4FY25. Going forward, the company plans to invest $200-250 million in capital expenditures across several business segments. While Syngene will increase the capacity of its research centres and production facilities for large and small compounds, BBL wants to expand its insulin factory in Malaysia as part of its capital expenditure plans. It is anticipated to spend $50 million in capital expenditures on generics in the upcoming year. The business anticipates approving generic Copaxone in the US and launching liraglutide there. According to management, Lenalidomide will be introduced in limitless quantities, with more launches scheduled for FY26. Additionally, five other products—Stelara, Bevacizumab, Aspart, Aflibercept, and Denosumab—will be introduced during the next 12 to 18 months. Risk Factor: If clearances from the US Food and Drug Administration, the European Medicines Agency, and those in the Asian and Latin American markets are delayed, their biosimilar business may miss out on opportunities. Additionally, the company faces fierce competition from a number of cost-competitive Indian enterprises as well as strong defense tactics from innovative companies that produce authorized generics. Also Read: Is the Israel-Iran war a billion-dollar threat to Adani Ports & SEZ? Titagarh Rail Systems Ltd (Current price: ₹839) Target price: ₹1,050 in 16-24 months Stop loss: ₹730 Why it's recommended: Titagarh Rail Systems was founded in 1997 and has over 25 years of expertise as a top provider of comprehensive mobility solutions in India. Its main activities include the production of passenger coaches, propulsion equipment, urban metros, semi-high-speed trains, and a variety of wagons, including specialized ones. With four production sites, the firm can now produce 12,000 wagons and 300 coaches annually, processing about 30,000 tonnes of casting steel. As of FY25, their entire order book was worth ₹11,200 crore. Titagarh Rail Systems is the only Indian company that produces both wagons and coaches. In FY25, operational revenue was ₹3,867 crore, a slight increase over ₹3,853 crore in FY24; however, it increased 18% CAGR since FY23. PAT stood at ₹274 crore, down 4.9% from ₹288 crore in FY24; however, it has been increasing at a robust CAGR of 43% since FY23. In FY25, the FRS segment's revenue was ₹3,610.27 crore, up 5.64% year over year. In FY25, the PRS segment's income was ₹255.55 crore. The company achieved a record for the most wagons ever produced in a single year in India, with 9,431 wagons. In FY25, it produced 27,240 metric tonnes in the foundry, setting a new production record. In order to increase its production to a significantly higher level in FY26, the company plans to expand its foundry by constructing fully modern foundry production facilities. About 40,000 tonnes of castings are what the company hopes to produce in the first phase of production in FY26. Since the supply chain problems with China have been fixed, the business anticipates that manufacturing for the Bangalore Metro will be rather streamlined. It is anticipated that production will be completely simplified starting in Q2 of FY26. Starting in FY26, the company plans to increase its propulsion division by between 125 and 150 traction motors every month, or 1,500 to 1,800 traction motors per month. The company has its sights set on winning a number of projects from the enormous potential pipeline. Among the major projects are the anticipated ₹15,800 crore Metro coach contracts and the ₹72,000 crore Vande Bharat Coach. Also Read: Is India's premium at risk? As Israel-Iran conflict sparks FPI outflows, valuation debate rages Risk Factor: More than 90% of the company's operating revenues come from freight rail systems and wagons, and Indian Railways continues to be the company's biggest source of sales. Additionally, geographically speaking, the company works on nearly all local projects and has little to no exposure to international enterprises. Market recap As the benchmark indices were flat amid the ongoing geopolitical worries that continued to worry investors, who remained vigilant, the Indian markets stayed flat and followed a bearish trend throughout the market hours on Thursday. The Nifty 50 hit an intraday low of 24,733.40 after opening at 24,803.25. Similar to this, the BSE Sensex opened at 81,403.94 and fell as low as 81,191.04 during the day. With an RSI of 51.65, the Nifty 50 closed at 24,793.25, down -18.80 points, or -0.08%, and fell below the 20-day EMA but above the 50/100/200 throughout the day. In contrast, the BSE Sensex closed below the 20-day EMA but above the 50/100/200 in the daily time frame at 81,361.87, down -82.79 points, or -0.10%, with an RSI of 50.50. The majority of sectoral indices ended in the red. One of the major losers was the Nifty PSU Bank Index, which ended the day at 6,734.30, down -140.35 points, or -2.04%. For three straight trading sessions, it saw a decrease. Additionally, it was touching the 50-day EMA and trading below the 20-day EMA. Almost all the companies declined in this index, with the Central Bank of India, Bank of India, Punjab & Sind Bank, UCO Bank, and Indian Overseas Bank among the major losers, dropping below 3% and causing the index to decline. Amid ongoing tensions between Israel and Iran, Asian markets likewise mirrored the pessimistic outlook on Thursday. For the fourth day in a row, the US Federal Reserve held the fed rate steady while cautioning that Donald Trump's trade policies would increase the danger of inflation. Hong Kong's Hang Seng index closed at 23,237.74, down -1.99%, or -472.95 points. The Nikkei 225 in Japan closed at 38,488.34, down -396.81 points, or -1.02%. At 10,051.97, the Shenzhen Index decreased -123.62 points, or -1.22%. The Shanghai index of China has likewise dropped, closing at 3,362.11, down -26.70 points, or -0.79%. The Kospi index for South Korea, meanwhile, increased slightly, ending at 2,977.74 after rising 0.19%, or 5.55 points. On Thursday, Dow Jones Futures in the US fell -173.60 points, or -0.42%, to 41,996. Also Read: Dull summer casts a cloud on Voltas's air conditioner volumes in Q1 Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Business Standard
2 days ago
- Business
- Business Standard
Restaurant Brands Asia Ltd leads gainers in 'A' group
Biocon Ltd, Hitachi Energy India Ltd, Indigo Paints Ltd and Ramkrishna Forgings Ltd are among the other gainers in the BSE's 'A' group today, 19 June 2025. Biocon Ltd, Hitachi Energy India Ltd, Indigo Paints Ltd and Ramkrishna Forgings Ltd are among the other gainers in the BSE's 'A' group today, 19 June 2025. Restaurant Brands Asia Ltd surged 7.39% to Rs 81.28 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 3.01 lakh shares were traded on the counter so far as against the average daily volumes of 74975 shares in the past one month. Biocon Ltd soared 2.44% to Rs 350.5. The stock was the second biggest gainer in 'A' group. On the BSE, 1.98 lakh shares were traded on the counter so far as against the average daily volumes of 1.42 lakh shares in the past one month. Hitachi Energy India Ltd spiked 2.37% to Rs 18904.95. The stock was the third biggest gainer in 'A' group. On the BSE, 8374 shares were traded on the counter so far as against the average daily volumes of 7617 shares in the past one month. Indigo Paints Ltd spurt 2.19% to Rs 1124.6. The stock was the fourth biggest gainer in 'A' group. On the BSE, 6163 shares were traded on the counter so far as against the average daily volumes of 12782 shares in the past one month. Ramkrishna Forgings Ltd added 2.16% to Rs 646.05. The stock was the fifth biggest gainer in 'A' group. On the BSE, 1.57 lakh shares were traded on the counter so far as against the average daily volumes of 1.34 lakh shares in the past one month.
Mint
5 days ago
- Business
- Mint
Biocon launches QIP to raise ₹4,500 crore
Indian biopharmaceutical firm Biocon Ltd is looking to raise $523 million ( ₹4,500 crore) by selling 11.6% stake through a qualified institutional placement (QIP) issue, showed a term sheet. The company has set a floor price of ₹340.20 per equity share, and an indicative floor price of ₹323.20 per equity share, according to the term sheet reviewed by Mint. The funds will be used to purchase outstanding optionally convertible debentures issued by the company's subsidiary Biocon Biologics from Goldman Sachs AIF schemes, and to repay the company's debts. Biocon has a net debt of about $1.2 billion, excluding structured instruments. BofA Securities India Ltd, Kotak Mahindra Capital, and Goldman Sachs (India) Securities Private Ltd are acting as lead managers to advise Biocon on the fundraise. Also read | Biocon to evaluate merger with subsidiary Biologics The company launched the QIP after market hours on Monday. Biocon's shares closed at ₹356.95 on the NSE on Monday, up 0.44%. The company's market cap is at ₹428.13 billion. Biocon did not immediately respond to a query emailed by Mint. On 23 April, the company's board had approved raising ₹4,500 crore by issuing securities via QIPs, rights issue, or other permissible routes, in one or more tranches. The company had sought shareholder approval for the fundraise via a postal ballot dated 2 May 2025. It had earlier said that it plans to complete the first tranche of equity sale by mid-June 2025. 'These funds will be used to meet financial commitments related to Biocon and its subsidiaries," the company's managing director and chief executive officer Siddharth Mittal had told Mint in an earlier interview. Read this | Biocon Biologicals' IPO only after integrating Viatris: CEO Biocon's board has a committee to evaluate strategic restructuring options, including a merger of its biosimilars arm Biocon Biologics Ltd with Biocon Ltd. The company had previously expressed plans to list the subsidiary on the stock exchanges. '…given the market volatility that we are seeing on the IPO front, the board was of the opinion that we should look at other strategic options, which also includes evaluating a merger," Kiran Mazumdar-Shaw, chairperson, Biocon Group, told investors in a post-earnings earnings call last month. The company's consolidated revenue for FY25 was ₹16,470 crore, up 5% from the previous year, while it reported an Ebitda of ₹4,374 crore and a net profit of ₹1,013 crore. And read | Serum arm to double investment in Biocon unit
Time of India
5 days ago
- Business
- Time of India
Biocon sets floor price of Rs 340.2 per share for Rs 4,500 cr QIP
Biotechnology firm Biocon Ltd on Monday said it has set the floor price of Rs 340.2 per equity share for its qualified institutions placement to raise Rs 4,500 crore. The Fund Raising Committee of the company at its meeting held on June 16, 2025 authorised the opening of the issue (qualified institutions placement) and approved the floor price for the issue at Rs 340.2 per equity share, Biocon Ltd said in a regulatory filing. On April 23, 2025 the company's board had approved raising the amount through issue of securities. The company's board approved to raise the capital by way of issuance of any instrument or security, including shares, non-convertible debt instruments along with warrants or any other convertible securities by way of qualified institutions placement or rights issue etc.
