Biocon’s board has approved the acquisition of equity shares of Biocon Biologics Limited (BBL) from multiple selling shareholders. This will be executed through a share swap and cash consideration. Additionally, the board greenlit a fund raise of up to ₹4,500 Crores. Also approved was an increase in authorized share capital and the issuance of commercial papers up to ₹1,800 Crores.
Biocon to Acquire Biocon Biologics Limited Shares
The Board of Directors has given the go-ahead for the acquisition of equity shares of Biocon Biologics Limited (BBL) from Mylan Inc., Serum Institute Life Sciences Private Limited, Tata Capital Growth Fund II, and Activ Pine LLP. This transaction is subject to necessary approvals, permissions, and sanctions.
Details of the Acquisition
The acquisition involves a combination of share swap and cash consideration. Biocon will issue 17,12,79,553 equity shares on a preferential basis to the selling shareholders, amounting to ₹6,950 Crores. Additionally, a cash payment of USD 400 million will be made to Mylan Inc.
Fund Raising Approval
The Board has also approved raising funds up to ₹4,500 Crores through the issuance of various instruments, including equity shares and non-convertible debt instruments. These funds will primarily be used for cash consideration payable to Mylan.
Increase in Authorized Share Capital
The authorized share capital of the company will be increased from ₹7,00,00,00,000 to ₹9,00,00,00,000, divided into 1,80,00,00,000 equity shares of ₹5 each. This is subject to shareholder approval.
Issuance of Commercial Papers
To manage interim cash remittance to Mylan, the board has approved the issuance of Commercial Papers for an amount up to ₹1,800 Crores.
Extra-Ordinary General Meeting
An Extra-Ordinary General Meeting (EGM) of shareholders is scheduled for December 31, 2025, to seek approval for the matters.
Source: BSE
