Biocon raises stake in Biocon Biologics to 98% after completing $200 million share buyout

Biotech firm Biocon Ltd on Tuesday (January 21) said it has completed the acquisition of the remaining equity shares of its unlisted material subsidiary, Biocon Biologics Ltd (BBL), from Mylan Inc for a cash consideration of $200 million.

The transaction is part of the board-approved acquisition announced on December 6, 2025, under which Biocon had agreed to acquire a total of 14.37 crore equity shares of BBL from various investors, including Mylan Inc., for an aggregate consideration of $400 million.

Biocon had earlier informed on January 5, 2026, about the completion of the acquisition of 7.18 crore equity shares from Mylan Inc. as part of the approved transaction. With the completion of the acquisition of the remaining 7.18 crore equity shares on January 21, 2026, the full acquisition from Mylan Inc stands concluded.

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Following the completion of this tranche, Biocon now holds approximately 98% of the paid-up equity share capital of Biocon Biologics Ltd on a fully diluted basis.

Last week, the board of Biocon approved the issue of 11.26 crore equity shares of face value of ₹5 each to eligible institutions. Biocon has raised a sum of ₹4,150 crore through the QIP.

Price of the QIP has been fixed as ₹368.35 per share, which is a 2.8% discount to Wednesday's closing price. Funds belonging to SBI, ICICI and Mirae Mutual Fund have been issued nearly two-thirds of the shares reserved for the QIP.

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After the issue of shares, Biocon's total paid-up equity share capital now stands at ₹810.45 crore, comprising 162.09 crore shares, from ₹754.12 crore, comprising 150.82 crore shares earlier. Proceeds from this QIP will be used in the payment of the cash consideration to Mylan Inc. for the acquisition of the Biocon Biologics shares.

Shares of Biocon Ltd ended at ₹365.00, down by ₹1.55, or 0.42%, on the BSE.