Biocon Limited has made a Qualified Institutions Placement of equity shares amounting to ₹4,150 crore (approximately $460 million).

Shardul Amarchand Mangaldas & Co advised Biocon Limited on this QIP.

The transaction team was led by Prashant Gupta (National Practice Head – Capital Markets) and Ruth Chenchiah (Partner), and comprised Debolina Mitra (Senior Associate), Kunika Agarwal (Associate) and Dipti Tharwani (Associate).

JSA Advocates & Solicitors advised Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. and Morgan India Private Limited, Morgan Stanley India Company Private Limited, the book running lead managers to the QIP.

The transaction team was led by Madhurima Mukherjee Saha (Partner), with support from Sagar Batra (Partner), Bhavini Mohan (Senior Associate), and Associates Rachit Munjal, Nidhi Prakriti, Shivani Agrawal, Aryaman Singh and Kumar Shubham.

Linklaters acted as International counsel to the BRLMs on this QIP, with a team led by Amit Singh (Partner, Head of the India Practice and Head, South and South East Asia Capital Markets).

The QIP was undertaken in pursuance of Biocon’s strategy to fully integrate its subsidiary, Biocon Biologics Limited, by combining businesses, and witnessed participation from leading institutional investors.

The QIP proceeds are proposed to be used for payment of cash consideration to Mylan Inc. for the acquisition of shares of Biocon Biologics Limited and repayment of related debt availed by the Company, repayment of debt availed in respect of the acquisition of compulsorily convertible debentures of Biocon Biologics Limited held by affiliates of Edelweiss and general corporate purposes.

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