Biocon announced the completion of a ?ualified Institutions Placement (?IP), raising INR 4,150 crore (USD 460 million) through the issuance of 112,664,585 equity shares of face value INR 5 each to eligible qualified institutional buyers at the issue price of INR 368.35 per equity share (including a premium of INR 363.35 per equity share).

The ?IP, which opened on 12 January, 2026, and closed on 14 January, 2026, attracted strong investor interest from a broad mix of domestic and international participants, reflecting robust confidence in Biocon’s growth prospects.

The proceeds from the ?IP will be primarily utilised to meet the cash consideration payable to Mylan Inc. (Viatris) for buying out its shareholding in Biocon Biologics, including repayment of debt availed in this regard.

The company recently announced that its Board of Directors had approved a strategic corporate action to acquire all remaining minority shareholdings, including Viatris’ stake, thereby making Biocon Biologics a wholly owned subsidiary of the company.

This integration marks a pivotal step in Biocon’s journey to lead in the therapeutic areas of diabetes, oncology, and immunology through a differentiated portfolio of biosimilars, insulins, generics and peptides (GLP-1s). The integration process is expected to be completed no later than 31 March, 2026.

The company received shareholders’ approval for the fundraise at the Extra-Ordinary General Meeting held on 31 December, 2025.