Biocon Secures INR 4,150 Cr via QIP to Acquire Full Stake in Biocon Biologics

The new fundraising included the issuance of a total of 112,664,585 equity shares at INR 368.35 per share.

Bengaluru-based biotech firm Biocon Biologics has raised INR 4,150 crore (about USD 460 million) through a Qualified Institutions Placement (QIP) as part of its plan to acquire full ownership of its biosimilars arm, Biocon Biologics.

The new fundraising included the issuance of a total of 112,664,585 equity shares at INR 368.35 per share.

The QIP, which opened on January 12 and closed on January 14, 2026, attracted strong interest from both domestic and international institutional investors.

According to the company, it intends to use the net proceeds primarily to meet the cash consideration payable to Mylan Inc. (Viatris) for acquiring the remaining minority stake in Biocon Biologics Limited, its biosimilars subsidiary.

In addition, a portion of the funds will be allocated toward the repayment of debt raised for the acquisition and for general corporate purposes.

The integration is expected to result in Biocon Biologics becoming a wholly owned subsidiary of Biocon.

The fundraising drew participation from a diverse group of investors, including domestic mutual funds, insurance companies, and foreign institutional investors, illustrating broad market confidence in Biocon’s direction.

Earlier, Biocon announced that its board of directors had approved a strategic corporate action to acquire the remaining minority shareholdings, including those held by Viatris.

The full integration of Biocon Biologics is expected to strengthen the company’s position in key therapeutic segments such as diabetes, oncology, and immunology.

The integration process is anticipated to be completed by March 31, 2026, subject to regulatory and shareholder approvals.

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