India, Dec 08 : Kiran Mazumdar Shaw led Biocon Ltd has appointed four investment banks as advisors as it prepares to raise up to ₹4,500 crore ($500 million) to fund strategic initiatives, sources told Moneycontrol. The advisory panel includes Kotak Mahindra Capital, Morgan Stanley, JP Morgan, and HSBC Securities.
The company is exploring multiple fundraising routes, including a qualified institutional placement (QIP), rights issue, preferential allotment, or private placement. Roadshows for the fund raise are expected to begin soon, with a targeted deal launch by January 2026.
Biocon’s Board has approved the proposal, which will be placed for shareholder approval at an extraordinary general meeting scheduled for December 31, 2025. Proceeds from the capital raise will primarily finance the cash consideration payable to Mylan Inc. (Viatris) as part of Biocon Biologics’ full integration with Biocon.
This move follows Biocon’s June 2025 QIP, which also raised ₹4,500 crore and attracted strong interest from domestic and international investors. Over the past six months, Biocon’s share price has risen nearly 15%, reflecting investor confidence in the company’s growth trajectory.
The fund raise coincides with the Biocon-Biocon Biologics merger, valuing the subsidiary at $5.5 billion. Biocon will acquire Mylan’s remaining stake for $815 million, with $400 million payable in cash and $415 million through a share swap at ₹405.78 per Biocon share. A Governance Council, chaired by Kiran Mazumdar-Shaw, and a Transition and Integration Management Committee, led by Biocon Biologics CEO Shreehas Tambe, have been constituted to ensure smooth integration.
The merger and fund raise are expected to streamline Biocon Biologics into a wholly owned subsidiary, consolidating strategic alignment, sectoral growth, and shareholder value creation. Biocon has also acquired the remaining stakes held by Serum Institute, Tata Capital, and Activ Pine in Biocon Biologics.
This capital infusion positions Biocon to strengthen its balance sheet, drive innovation, and complete the integration of its biologics subsidiary, reinforcing its leadership in the global biopharmaceutical landscape.