Biocon raises 1,070 cr via NCDs

Biocon announced that the company has issued and allotted non-convertible debentures (NCDs) aggregating to Rs 1,070 crore on private placement basis in three series.

These unlisted, secured, rated, redeemable, non-convertible debentures having face value of Rs 1 lakh each allotted on 21 February 2023, will be matured on 21 February 2028.

Biocon is an innovation-led, global biopharmaceutical company committed to enhancing affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune diseases.

The biopharmaceutical company reported a consolidated net loss of Rs 41.80 crore in Q3 FY23 as against a net profit of Rs 187.10 crore in Q3 FY22. Revenue from operations jumped 35.3% to Rs 2,941.10 crore in the quarter ended 31 December 2022 from Rs 2,174.20 crore reported in the same period a year ago.

 

The scrip declined 0.62% to Rs 225.65 on the BSE.

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