Biocon opens ₹4,500 crore QIP, sets floor price at ₹387.74 per share

Biocon has opened a ₹4,500-crore QIP and fixed a floor price of ₹387.74 per share. The company said it may offer a discount of up to 5% and will finalise pricing with lead managers

Biocon on Monday said its board has approved the floor price of qualified institutional placement (QIP) of equity shares for up to ₹4,500 crores.

 

The floor price for the issue has been set at ₹387.74 per share. Biocon shares closed at ₹372.05 per share on the BSE on Monday. The biosilimars manufacrturer also said that it may offer a discount of up to 5 per cent on the floor price. The final issue price will be determined by the company in consultation with the book running lead managers appointed for the QIP, the Bengaluru-based company said in a BSE filing.

 

 

The fundraising plan was approved by Biocon's board on December 6, 2025, and by the shareholders on December 31, 2025.

 

Of the amount to be raised through the share sale, as much as ₹3,620 crore will be used primarily to make payments to Mylan Inc. (Viatris), the company said on December 6.

 

Last month, the company agreed to buy Mylan’s stake in Biocon Biologics in a transaction valued at $815 million. Under the terms of the deal, $400 million will be paid in cash, while the remaining $415 million will be settled through a share swap, with Mylan receiving 61.70 Biocon shares for every 100 shares of Biocon Biologics, reported NDTV Profit.

 

Separately, up to ₹410 crore from the QIP proceeds will be used to repay borrowings taken to fund the acquisition of compulsorily convertible debentures in Biocon Biologics. The balance of about ₹50 crore will be allocated for general corporate purposes, the report added.