Biocon Raises Stake in Biocon Biologics to 98% After Mylan Deal

22 Jan 2026 , 11:24 AM

Biocon Ltd said on Tuesday, January 21, that it has completed the acquisition of the remaining equity shares of its unlisted material subsidiary, Biocon Biologics Ltd, 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 Biocon Biologics from various investors, including Mylan Inc, for an aggregate consideration of $400 million.

The company had earlier informed on January 5, 2026, about the completion of the acquisition of 7.18 crore equity shares from Mylan Inc under the same 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 now stands concluded. Following this tranche, Biocon holds approximately 98 percent of the paid-up equity share capital of Biocon Biologics Ltd on a fully diluted basis.

Last week, the board of Biocon approved the issuance of 11.26 crore equity shares of face value ₹5 each to eligible institutional investors through a qualified institutional placement. The company raised ₹4,150 crore through the QIP.

The QIP price was fixed at ₹368.35 per share, which represents a discount of 2.8 percent to Wednesday’s closing price. Funds belonging to SBI, ICICI, and Mirae Mutual Fund were allotted nearly two-thirds of the shares reserved for the issue.

Following the issuance of shares, Biocon’s total paid-up equity share capital increased to ₹810.45 crore, comprising 162.09 crore equity shares, compared with ₹754.12 crore and 150.82 crore shares earlier. The company said the proceeds from the QIP will be used to pay the cash consideration to Mylan Inc for the acquisition of Biocon Biologics shares.

For feedback and suggestions, write to us at [e-mail]