Biocon Ltd has successfully closed a ₹4,500 crore Qualified Institutional Placement (QIP), making it its first equity fundraise since its 2004 IPO. Launched on June 16 and wrapped up by June 19, the issue involved issuing approximately 13.63 crore shares (face value ₹5) at ₹330 apiece—incorporating a premium of ₹325 per share. The QIP drew robust investor interest across domestic and global institutional investors, including SBI, ICICI Prudential, HDFC Life, Nippon India, Mirae Asset, Franklin Templeton, Government Pension Fund Global, and BlackRock . According to CEO Siddharth Mittal, the strong response highlights significant confidence in Biocon’s strategic vision and execution. The funds will be used to refinance and redeem outstanding optionally convertible debentures in its subsidiary, Biocon Biologics (including those held by Goldman Sachs), repay debt, and fuel innovation and global expansion of affordable biosimilars .

Overall, this capital raise not only strengthens Biocon’s balance sheet but also reinforces its commitment to delivering lifesaving therapeutics globally.

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