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Biocon Launches QIP to Raise ₹4,500 Crore
Mint New Delhi
|June 17, 2025
Co has a net debt of about $1.2 bn, excluding structured instruments
Indian biopharmaceutical firm Biocon Ltd is looking to raise $523 million (₹4,500 crore) by selling 11.6% stake through a qualified institutional placement (QIP) issue, showed a term sheet.
The company has set a floor price of ₹340.20 per equity share, and an indicative floor price of ₹323.20 per equity share, according to the term sheet reviewed by Mint.
The funds will be used to purchase outstanding optionally convertible debentures issued by the company's subsidiary Biocon Biologics from Goldman Sachs AIF schemes, and to repay the company's debts. Biocon has a net debt of about $1.2 billion, excluding structured instruments.
BofA Securities India Ltd, Kotak Mahindra Capital, and Goldman Sachs (India) Securities Pvt. Ltd are acting as lead managers to advise Biocon on the fundraise.
Dit verhaal komt uit de June 17, 2025-editie van Mint New Delhi.
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