Biocon.
Biocon Raises Rs 4,150 Crore Through Qualified Institutions Placement: Biocon Limited has successfully raised ₹4,150 crore through a Qualified Institutions Placement (QIP) of equity shares, reinforcing its strategy to fully integrate its biologics business. The transaction witnessed strong participation from leading institutional investors.
Shardul Amarchand Mangaldas & Co advised Biocon on the QIP. The transaction team was led by Prashant Gupta (National Practice Head – Capital Markets) and Ruth Chenchiah (Partner), and comprised Debolina Mitra (Senior Associate), Kunika Agarwal (Associate) and Dipti Tharwani (Associate).
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Prashant Gupta, SAM.
The proceeds from the QIP will be used primarily to pay cash consideration to Mylan Inc. for the acquisition of shares in Biocon Biologics Limited. Additional uses include repayment of related acquisition debt, repayment of debt linked to compulsorily convertible debentures held by Edelweiss affiliates, and general corporate purposes.
The QIP is a key step in Biocon’s plan to consolidate and strengthen its biologics platform, enabling long-term value creation and operational synergies.
Ruth Chenchiah, SAM.
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Linklaters acted as international counsel to the BRLMs on this QIP, with a team led by Amit Singh (Partner, Head of the India Practice and Head, South and South East Asia Capital Markets).
The QIP was undertaken in pursuance of Biocon’s strategy to fully integrate its subsidiary, Biocon Biologics Limited, by combining businesses, and witnessed participation from leading institutional investors.
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Amit Singh, Linklaters.
As per the people familiar with the matter, the QIP proceeds will be used for payment of cash consideration to Mylan Inc. for the acquisition of shares of Biocon Biologics Limited and repayment of related debt availed by the Company, repayment of debt availed in respect of the acquisition of compulsorily convertible debentures of Biocon Biologics Limited held by affiliates of Edelweiss and general corporate purposes.
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