Biocon Limited has successfully concluded its Qualified Institutions Placement (QIP), raising ₹4,150.00 crores through strong institutional investor participation. The biopharmaceutical company issued 112,664,585 equity shares at ₹368.35 per share, representing a 2.80% discount to the previous day's closing price of ₹378.90.

QIP Transaction Details

The fundraising exercise demonstrated robust market confidence in Biocon's growth prospects, with the company witnessing participation from a diverse investor base across multiple categories. The issue price included a premium of ₹363.35 per share over the face value of ₹5.00.

Major Fund Allocation Breakdown

The QIP attracted significant interest from leading domestic mutual funds, with three major fund houses securing nearly two-thirds of the total allocation. The allocation pattern reflects strong institutional confidence in Biocon's strategic direction.

Updated Share Capital Structure

Following the completion of the QIP, Biocon's capital structure has been significantly enhanced. The company's total paid-up equity share capital has increased substantially, reflecting the successful fundraising initiative.

Strategic Use of Proceeds

The net proceeds from the QIP will be utilized for specific strategic objectives aimed at consolidating Biocon's biologics business. The primary use involves payment of cash consideration to Mylan Inc. (Viatris) for acquiring their shareholding in Biocon Biologics Limited, with the company planning to pay $400.00 million as part of this acquisition.

Biocon Biologics Integration Strategy

This fundraise supports Biocon's strategic corporate action to acquire all remaining minority shareholdings in Biocon Biologics Limited, making it a wholly owned subsidiary. The company intends to make Biocon Biologics a 100% subsidiary by issuing shares to its existing shareholders, marking a pivotal step in consolidating its biologics operations. The integration will strengthen Biocon's position in therapeutic areas of diabetes, oncology, and immunology through a differentiated portfolio of biosimilars, insulins, generics and peptides including GLP-1s.

Biocon Limited has successfully completed its Qualified Institutions Placement (QIP) issue, raising ₹41,500.00 million through the allotment of equity shares to qualified institutional buyers. The pharmaceutical company's Fund Raising Committee approved the issue and allotment on January 14, 2026, marking the completion of a significant capital raising exercise.

QIP Issue Details

The QIP issue involved the allotment of 11,26,64,585 equity shares of face value ₹5.00 each at an issue price of ₹368.35 per share. The pricing included a premium of ₹363.35 per equity share over the face value.

Impact on Share Capital

Following the successful allotment, Biocon's paid-up equity share capital has increased substantially. The company's total equity base expanded from 1,50,82,43,188 shares to 1,62,09,07,773 shares.

Major Allottees

The QIP witnessed significant participation from prominent mutual fund houses, with several funds receiving substantial allocations. Three major fund groups dominated the allotment, each receiving approximately 29.52% of the total shares offered.

SBI Mutual Fund Group:

• SBI Contra Fund: 1,12,66,460 shares (10.00% of issue)
• SBI Multicap Fund: 97,73,314 shares (8.67% of issue)
• SBI ELSS Tax Saver Fund: 40,72,215 shares (3.61% of issue)
• Other SBI funds received smaller allocations

ICICI Prudential Group:

• ICICI Prudential Value Fund: 1,39,81,271 shares (12.41% of issue)
• ICICI Prudential Pharma Healthcare Fund: 1,05,87,759 shares (9.40% of issue)
• ICICI Prudential Innovation Fund: 32,57,772 shares (2.89% of issue)
• Additional ICICI Prudential funds participated with varying allocations

Mirae Asset Group:

• Mirae Asset Large & Midcap Fund: 38,07,987 shares (3.38% of issue)
• Mirae Asset Large Cap Fund: 26,65,591 shares (2.37% of issue)
• Other Mirae Asset funds received smaller portions

Regulatory Compliance

The QIP was conducted under Chapter VI of the SEBI ICDR Regulations and Sections 23(1)(b), 42 and 62(1)(c) of the Companies Act, 2013. The Fund Raising Committee meeting was held on January 14, 2026, commencing at 11:40 p.m. and concluding at 11:45 p.m.

The trading window for dealing in Biocon securities, which was closed for insiders during the QIP process, is scheduled to reopen on January 17, 2026. The company has submitted the required disclosures to both BSE Limited and National Stock Exchange of India Limited in compliance with SEBI Listing Regulations.