Biocon informed that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 340.20 per equity share.
The company's board authorized and declared the opening of the issue on Monday, 16 June 2025.The floor price of Rs 340.20 is at a discount of 4.79% to the scrips previous closing price of Rs 357.30 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined in consultation with the book running lead managers appointed for the issue.
Biocon is an innovation-led global biopharmaceutical company focused on improving affordable access to complex therapies for chronic conditions like diabetes, cancer, and autoimmune diseases. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets, as well as generic formulations in the U.S. and Europe
The companys consolidated net profit surged 154.2% to Rs 344.50 crore on a 12.8% jump in net sales to Rs 4,358.10 crore in Q4 FY25 over Q4 FY24.
The scrip rose 0.78% to currently trade at Rs 360.10 on the BSE.
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