Biopharmaceutical major, Biocon has closed its Qualified Institutional Placement (QIP), raising ₹4,500 crore in its first equity fundraising since going public in 2004.

The company issued 13.63 crore equity shares at ₹330 apiece, including a premium of ₹325 per share. The issue, which opened on June 16 and closed on June 19, saw strong participation from a diverse mix of domestic and global institutional investors.

The proceeds will be used to purchase optionally convertible debentures in Biocon Biologics, currently held by Goldman Sachs India AIF Scheme – 1 and Scheme – 2. The funds will also support repayment or prepayment of select borrowings and financial instruments, in addition to meeting general corporate requirements.

The QIP garnered interest from top-tier investors including 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 strong response to our QIP reflects deep investor conviction in Biocon’s differentiated strategy and consistent execution,” said Siddharth Mittal, CEO and MD of Biocon Ltd. “This capital raise strengthens our balance sheet and enables us to invest in innovation, expand global access to lifesaving biopharmaceuticals, and deliver affordable healthcare solutions that address pressing health inequities.”

The Company received shareholder approval for the fundraise via a postal ballot on June 4, 2025. The post-issue shareholding of the Promoter[2] and Promoter Group[3] stands at 54.45 per cent.

The shares of the company was up by 0.59 per cent at ₹350.65 on the BSE.

Published on June 20, 2025