Biocon Limited has announced the successful conclusion of a Qualified Institutions Placement (QIP), raising ₹4,150 crore (approximately USD 460 million). The fundraising involved the issuance of 112,664,585 equity shares at an issue price of ₹368.35 per share. The QIP opened on January 12, 2026, and closed on January 14, 2026, attracting significant interest from both domestic and international investors.

The proceeds from this QIP are earmarked for fulfilling the cash consideration required to acquire Mylan Inc.'s (Viatris) shareholding in Biocon Biologics Limited. This acquisition, along with the repayment of associated debt, is a strategic move to make Biocon Biologics a wholly owned subsidiary of Biocon Limited. This integration is a key step in Biocon's strategy to lead in the therapeutic areas of diabetes, oncology, and immunology.

The integration process is anticipated to be completed by March 31, 2026. The QIP witnessed robust participation from various investor categories, including Domestic Mutual Funds, Domestic Insurance Companies, and Foreign Institutional Investors. Notable investors included SBI Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Birla Mutual Fund, HDFC Life Insurance, ICICI Prudential Life Insurance, and JPMorgan Asset Management.

Additionally, the net proceeds will be utilized for repaying debt obtained for the acquisition of compulsory convertible debentures (CCDs) of Biocon Biologics Limited held by Edelweiss, and for general corporate purposes. Shareholders had previously approved this fundraise during an Extra-Ordinary General Meeting held on December 31, 2025.