Biocon’s board greenlit the acquisition of Biocon Biologics Limited (BBL) equity shares from Mylan, Serum Institute, Tata Capital, and Activ Pine. This will be settled via equity shares and cash. The board also approved raising up to ₹4,500 Crores and issuing commercial papers for up to ₹1,800 Crores. An EGM will be held on December 31, 2025, for shareholder approval.
Biocon Biologics Acquisition Approved
Biocon has approved the acquisition of equity shares of Biocon Biologics Limited (BBL) from several entities: Mylan Inc., Serum Institute Life Sciences Private Limited, Tata Capital Growth Fund II, and Activ Pine LLP. The board agreed to the terms of the proposed transaction, with requisite approvals pending.
Equity Share Issuance
As part of the BBL acquisition, the Board approved the issuance of 17,12,79,553 equity shares of the Company, with a face value of ₹5 each, on a preferential basis. This “Preferential Issue” will total up to ₹6,950 Crores and is for consideration other than cash, specifically, a swap of securities of BBL to the allottees.
Fund Raising Plans
The board also approved raising funds up to ₹4,500 Crores through various instruments, including equity shares, non-convertible debt, or other eligible securities. The goal is to raise funds through qualified institutional placements (QIP), rights issues, preferential allotments, or private placements. These funds will be directed towards cash consideration payable to Mylan.
Commercial Paper Issuance
The company plans to issue commercial papers for up to ₹1,800 Crores to manage cash remittances to Mylan. This is a short-term measure until the larger fund-raising efforts are completed.
Extraordinary General Meeting
An Extraordinary General Meeting (EGM) is scheduled for December 31, 2025, to seek shareholder approval for the aforementioned matters. The meeting will be conducted via video conferencing or other audio-visual means. The notice of the EGM will be communicated separately.
Details of Biocon Biologics Limited (BBL)
Biocon Biologics Limited is a material subsidiary of Biocon Limited with a net worth of ₹1,84,906 Mn as of March 31, 2025. Its standalone turnover as of March 31, 2025, was ₹29,543 Mn, and the consolidated turnover was ₹90,174 Mn.
Source: BSE