Biocon Limited has informed the Exchange about Acquisition
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Biocon Limited has acquired Optionally Convertible Redeemable Non-Cumulative Preference Shares (OCRPS) in two of its wholly owned subsidiaries on March 3, 2026. It acquired 11.53 crore OCRPS of Rs. 10 each in Biocon Biosphere Limited (BBSL) for a total consideration of Rs. 115.34 crore, funded partly by Rs. 20 crore cash and Rs. 95.34 crore through conversion of an earlier loan plus interest. It also acquired 20 crore OCRPS of Rs. 10 each in Biocon Pharma Limited (BPL) for a cash consideration of Rs. 200 crore. Both subsidiaries are already 100% owned by Biocon. BBSL is into API and generic formulations manufacturing with FY25 turnover of Rs. 130 million, while BPL makes generic formulations for global markets (US, Europe) with FY25 turnover of Rs. 9,825 million. The funds will be used for working capital, capex, and general corporate needs of the subsidiaries.
This is an internal capital infusion into Biocon's existing wholly owned subsidiaries and does not change ownership or control. It is largely a balance sheet restructuring move and is unlikely to have a material impact on Biocon's consolidated financials or share price.