Biocon’s board has approved the acquisition of equity shares of Biocon Biologics Limited (BBL) and a fund-raising plan. The BBL share acquisition involves multiple entities, while the fund raise targets Rs. 4,500 Crores. Additionally, the board approved an increase in authorized share capital and issuance of commercial papers up to Rs. 1,800 Crores to facilitate these transactions.
Biocon to Increase Stake in Biocon Biologics
Biocon’s board of directors has approved the acquisition of equity shares in its subsidiary, Biocon Biologics Limited (BBL). The acquisition involves shares currently held by Mylan Inc., Serum Institute Life Sciences Private Limited, Tata Capital Growth Fund II, and Activ Pine LLP.
Details of the Share Acquisition
The acquisition of BBL shares from Mylan Inc. involves a cash consideration, while acquisitions from Serum, TCGF and Activ Pine will be through a share swap. The issuance of 17,12,79,553 equity shares of the company is planned on a preferential basis to facilitate this.
Fund Raising Plan Approved
The board has also approved raising funds up to Rs. 4,500 Crores through various instruments, including equity shares and non-convertible debt. These funds are primarily aimed towards cash consideration payable to Mylan. The board has approved the issuance of Commercial Papers for an amount up to Rs. 1,800 Crores, in one or more tranches on private placement basis, in order to discharge the cash remittance to Mylan in the interim.
Increase in Authorized Share Capital
The authorized share capital of the company will be increased from the existing Rs. 7,00,00,00,000 to Rs. 9,00,00,00,000. This increase is subject to shareholder and regulatory approvals.
Extraordinary General Meeting
An Extra-Ordinary General Meeting (EGM) of the shareholders is scheduled for December 31, 2025, to seek approval for these proposals. The notice of the EGM will be communicated in due course. The relevant date for determining the floor price of the preferential issue is Monday, December 1, 2025.
Source: BSE
