New Delhi: Biocon Ltd on Tuesday said it has successfully raised ₹4,150 crore through a qualified institutions placement (QIP), strengthening its balance sheet to fund the acquisition of the remaining minority stake in Biocon Biologics held by Mylan Inc (now Viatris).
The Bengaluru-based biopharmaceutical company issued 112.66 million equity shares at a price of ₹368.35 per share, including a premium of ₹363.35, in a QIP that opened on January 12 and closed on January 14, 2026. The fundraise attracted strong interest from a broad mix of domestic and international institutional investors, underscoring confidence in Biocon’s long-term growth strategy.
Biocon said the bulk of the proceeds will be used to meet the cash consideration payable to Viatris for acquiring its shareholding in Biocon Biologics, including repayment of debt availed for the transaction. Part of the funds will also go towards repaying debt linked to the acquisition of compulsory convertible debentures of Biocon Biologics held by Edelweiss, with the remainder earmarked for general corporate purposes.
The company had recently announced board approval to acquire all remaining minority interests in Biocon Biologics, a move that will make the biosimilars business a wholly owned subsidiary. The integration is expected to be completed by March 31, 2026, and is seen as a key step in simplifying the group structure and sharpening strategic focus.
The QIP saw participation from 39 investors, including leading domestic mutual funds, insurance companies and foreign institutional investors such as SBI Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, HDFC Life Insurance and JPMorgan Asset Management.
With full ownership of Biocon Biologics, the company aims to accelerate growth across diabetes, oncology and immunology, leveraging a differentiated portfolio of biosimilars, insulins, generics and GLP-1 peptides. Management believes the integration will enhance operational flexibility, capital allocation and value creation over the medium to long term