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.
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