Biocon Limited has informed the Exchange regarding "Corrigendum to the Postal Ballot Notice dated May 07, 2026"
BIOCON · price
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Biocon Limited has issued a corrigendum to its earlier Postal Ballot Notice regarding a preferential issue of equity shares for consideration other than cash. The corrigendum follows Stock Exchange (NSE/BSE) advice requiring clarification on Item No. 3 (Preferential Issue). Key changes include: floor price revised to Rs. 373.08 per share (90-day VWAP), issue price to Rs. 376.41 per share, swap ratio adjusted to 0.76159 (76.159 Biocon shares for every 100 Biocon Biologics Limited shares), and total shares to be issued now 87,86,362. A total of 127 allottees (mostly non-promoter) will receive Biocon shares worth Rs. 330.73 crores in exchange for their BBL shares. One allottee (Ravi Rasendra Mazumdar) belongs to the Promoter Group. The e-voting window runs until June 07, 2026. Votes already cast may remain valid but shareholders may modify their votes based on the new information.
Shareholders face minor dilution (~0.54% for non-promoters) as Biocon acquires remaining BBL shares via share swap, making Biocon Biologics a wholly-owned subsidiary. The transaction involves 127 allottees and is priced at a slight premium to floor price, reflecting updated valuation.