Biocon update on proposed primary investment of True North in Biocon Biologics

Biocon, Biocon Biologics India and Activ Pine LLP (an affiliate of True North Fund VI LLP) have executed a share subscription agreement and a shareholders agreement.

Pursuant to the share subscription agreement, subject to completion of the relevant conditions precedent, Activ Pine LLP shall subscribe to 50,25,463 equity shares of Biocon Biologics India, at a price of Rs. 1,067.07 per equity share.

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