Biocon Board Greenlights Fundraising Plan of Up to ₹4,500 Crore

Biocon Ltd has received board approval to raise up to ₹4,500 crore through the issue of securities. The company may use methods including qualified institutional placements (QIP), rights issues, preferential allotments, or private placements. The issuance can be done in one or more phases, depending on how the plan progresses.

As of 10:00 AM on April 24, 2025, Biocon share price was trading at ₹327.45, down 2.46%, with a 6.26% decline over the past month and a 13.07% gain over the past year.

Instruments Under Consideration

According to the filing, the fundraising could include a combination of equity shares, non-convertible debentures (NCDs), warrants, or other convertible or eligible securities. All proposed issuances are subject to necessary shareholder and regulatory approvals.

Authorised Capital to Be Increased

The board has also approved increasing the company’s authorised share capital from ₹625 crore to ₹700 crore. This involves raising the number of equity shares from 125 crore to 140 crore, each with a face value of ₹5. The amendment will be made to the capital clause in Biocon’s Memorandum of Association and will also require shareholder approval.

Biocon plans to conduct a postal ballot to seek shareholder approval for both the fundraising proposal and the change in authorised share capital.

Company Overview

Biocon Ltd is a pharmaceutical company based in Bengaluru. It manufactures generic active pharmaceutical ingredients (APIs) and biosimilars. The company operates in both domestic and international markets.

Read More: Biocon Share Price Rose Over 5% Intraday: Check Why?

Conclusion

Biocon’s board has cleared proposals for a fundraise and capital restructuring. Further steps will depend on the results of the shareholder ballot and any regulatory clearances required.

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