Biocon Raises Rs 4,150 Crore via QIP to Acquire Viatris Stake in Biocon Biologics

Biocon raised Rs 4,150 crore through a Qualified Institutions Placement by issuing over 112 million equity shares at Rs 368.35 each. The funds will primarily be used to acquire Mylan Inc.'s (Viatris) minority stake in Biocon Biologics, making it a wholly owned subsidiary by March 31, 2026. The QIP attracted strong institutional interest from domestic and international investors. This strategic move aims to integrate Biocon Biologics fully, supporting Biocon's focus on biosimilars in diabetes, oncology, and immunology while facilitating debt repayment.