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HomeMarketStocksBiocon Biologics allots equity shares worth Rs 2,205.63 crore to its parent

Biocon Biologics allots equity shares worth Rs 2,205.63 crore to its parent


Biotechnology main on Thursday mentioned its subsidiary Biocon Biologics has allotted fairness shares price Rs 2,205.63 crore to it as a part of an fairness infusion to fund the latter’s acquisition of Viatris Inc’s biosimilars enterprise. In February this yr, Biocon Biologics Ltd (BBL) inked a pact to accumulate Viatris Inc’s biosimilars enterprise for consideration of as much as USD 3.335 billion (about Rs 24,990 crore).
has subscribed to the fairness shares and allotment has been made by BBL on November 23 for a money consideration of Rs 2,205.63 crore (round USD 270 million), it mentioned in a regulatory submitting.

Put up the allotment of shares, Biocon’s stake in BBL can be 88.85 per cent, it added.

On the time of saying the deal to accumulate Viatris, BBL had mentioned it could be by way of a money fee of USD 2 billion, which might be funded by way of USD 800 million raised by way of fairness infusion in BBL and the rest by debt, further fairness or a mix



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