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Business Standard
15 hours ago
- Business
- Business Standard
Biocon raises Rs 4,500 crore via QIP
First equity fundraise since 2004 IPO sees strong institutional demand. Biocon has successfully concluded a Qualified Institutions Placement (QIP), raising Rs 4,500 crore (approximately $523 million), marking its first equity fundraise since its IPO in 2004. The company issued 13.63 crore equity shares at Rs 330 per share. The QIP opened on June 16 and closed on June 19, attracting participation from a mix of domestic and foreign institutional investors. Major names in the final orderbook included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Life, Nippon India Mutual Fund, Mirae Asset, Franklin Templeton, SBI General Insurance, Government Pension Fund Global, and BlackRock. The proceeds from the fundraise will be used for multiple strategic objectives, including purchasing optionally convertible debentures of Biocon Biologics from Goldman Sachs-managed funds, repaying certain borrowings, and meeting other financial and corporate needs. Following the issue, the combined stake of the promoter and promoter group stands at 54.45%, down from 60.64% as of March 2025. Siddharth Mittal, CEO and managing director, Biocon, 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." Biocon is a global biopharma company dedicated to improving affordable access to therapies for chronic conditions like diabetes, cancer, and autoimmune diseases. 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 0.86% to settle at Rs 351.60 on Friday, 20 June 2025.
The Hindu
a day 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.
Economic Times
5 days ago
- Business
- Economic Times
Asian Paints block deal: Reliance Industries affiliate sells 85 lakh shares worth Rs 1,876 crore
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mukesh Ambani-led Reliance Industries (RIL) on Monday sold 85 lakh shares in India's largest paint company Asian Paints via a block deal which was worth Rs 1,876 crore. The shares were sold through RIL's affiliate Siddhant Commercials Private Limited to ICICI Prudential Mutual Fund The Asian Paints shares were sold by RIL at a price of Rs 2,207 per equity share. The shares of the paint company ended at Rs 2,243.65, up by Rs 28.35 or 1.28% over the Friday closing price of Rs 2, deal comes on the heels of last week's significant transaction where Reliance Industries Ltd (RIL) offloaded a 3.6% equity stake in the company to SBI Mutual Fund through a block deal executed on Thursday. SBI Mutual Fund, India's largest asset manager, acquired the 3.6% stake for Rs 7,704 crore ($900 million), making it one of India's largest bilateral block deals. The shares were picked up at Rs 2201 deal allowed Reliance to monetise part of its long-term investment in Asian Paints, which it held via Siddhant Commercials Ltd. The transaction delivered a windfall to Reliance, translating into a near 23-fold return on a 17-year-old Paints shares have been under stress, declining by more than 20% in the past one year while its year-to-date fall is to the tune of 3%.The company had a lackluster earnings with its consolidated net profit declining by 45% decline to Rs 692 crore for the fourth quarter, as weak urban demand weighed on performance. The net profit stood at Rs 1,257 crore in the same quarter last year. The revenue from operations also fell 4% year-on-year to Rs 8,330 crore."The weak demand conditions prevalent for the past few quarters continued to affect the paint industry even in the last quarter of the financial year. The demand for decorative coatings was only marginally better than in the third quarter," Amit Syngle, MD and CEO of Asian Paints had said, commenting on the Read: Vishal Mega Mart promoter to sell 10% stake worth Rs 5,057 crore via block deal: Report
Time of India
5 days ago
- Business
- Time of India
Asian Paints block deal: Reliance Industries affiliate sells 85 lakh shares worth Rs 1,876 crore
Mukesh Ambani-led Reliance Industries (RIL) on Monday sold 85 lakh shares in India's largest paint company Asian Paints via a block deal which was worth Rs 1,876 crore. The shares were sold through RIL's affiliate Siddhant Commercials Private Limited to ICICI Prudential Mutual Fund . The Asian Paints shares were sold by RIL at a price of Rs 2,207 per equity share. The shares of the paint company ended at Rs 2,243.65, up by Rs 28.35 or 1.28% over the Friday closing price of Rs 2,215.30. The deal comes on the heels of last week's significant transaction where Reliance Industries Ltd (RIL) offloaded a 3.6% equity stake in the company to SBI Mutual Fund through a block deal executed on Thursday. SBI Mutual Fund, India's largest asset manager, acquired the 3.6% stake for Rs 7,704 crore ($900 million), making it one of India's largest bilateral block deals. The shares were picked up at Rs 2201 apiece. The deal allowed Reliance to monetise part of its long-term investment in Asian Paints, which it held via Siddhant Commercials Ltd. The transaction delivered a windfall to Reliance, translating into a near 23-fold return on a 17-year-old investment. Asian Paints shares have been under stress, declining by more than 20% in the past one year while its year-to-date fall is to the tune of 3%. The company had a lackluster earnings with its consolidated net profit declining by 45% decline to Rs 692 crore for the fourth quarter, as weak urban demand weighed on performance. The net profit stood at Rs 1,257 crore in the same quarter last year. The revenue from operations also fell 4% year-on-year to Rs 8,330 crore. "The weak demand conditions prevalent for the past few quarters continued to affect the paint industry even in the last quarter of the financial year. The demand for decorative coatings was only marginally better than in the third quarter," Amit Syngle, MD and CEO of Asian Paints had said, commenting on the results. Also Read: Vishal Mega Mart promoter to sell 10% stake worth Rs 5,057 crore via block deal: Report
Time of India
6 days ago
- Business
- Time of India
Asian Paints shares see Rs 1900 crore block deal, stock up 1%
Shares of Asian Paints climbed nearly 1% on Monday to Rs 2235.8 on the BSE after a large block deal saw 85 lakh shares worth Rs 1,876 crore change hands, according to a report by ET NOW. The deal comes on the heels of last week's significant transaction where Reliance Industries Ltd (RIL) offloaded a 3.6% equity stake in Asian Paints to SBI Mutual Fund through a block deal executed on Thursday. SBI Mutual Fund, India's largest asset manager, acquired the 3.6% stake for Rs 7704 crore ($900 million), making it one of India's largest bilateral block deals. The shares were picked up at Rs 2201 apiece. The deal allowed Reliance to monetize part of its long-term investment in Asian Paints, which it held via Siddhant Commercials Ltd. The transaction delivered a windfall to Reliance, translating into a near 23-fold return on a 17-year-old investment. Technicals still weak Live Events Asian Paints' stock has been under pressure. The shares have fallen 24.2% over the last year and are down 8% over the past six months. In the past month, the stock has declined 5%, including a 1.4% drop over the previous week. On the technical front, the stock is trading below all eight of its key simple moving averages — from the 5-day to the 200-day SMA — reflecting broad bearish sentiment across short-term, medium-term, and long-term timeframes. The Relative Strength Index (RSI) stands at 34.0, suggesting the stock is nearing oversold territory, while the Moving Average Convergence Divergence (MACD) is at -34.4 and remains below its signal and center line, a strong bearish indicator. Also read | HDFC Bank, Airtel lift Sensex over 200 pts, Nifty above 24,750 ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
