Biocon Limited has informed the Exchange regarding Change in Auditors of the company.
BIOCON · price
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Biocon Limited's Board approved FY2026 audited financial results and recommended a final dividend of Rs. 0.50 per share (10% on Rs. 5 face value), payable by August 31, 2026. The Board approved a change in statutory auditors, replacing retiring B S R & Co. LLP with S R Batliboi & Associates LLP for a 5-year term. Six new independent directors are being appointed including Rajiv Malik (former President of Viatris/Mylan), Daniel Bradbury (former CEO of Amylin Pharmaceuticals), Peter Baron Piot (renowned microbiologist and Ebola co-discoverer), and Nivruti Rai (former Intel India Country Head). Thomas Jason Roberts is appointed as Non-Executive Non-Independent Director. Additionally, Biocon will acquire the remaining ~2% stake in subsidiary Biocon Biologics Limited (BBL) through a share swap, issuing 87.92 lakh equity shares at Rs. 376.16 per share totaling Rs. 330.73 crore, taking its holding to ~99.99%.
The BBL integration via share swap simplifies corporate structure and consolidates control over the biosimilars business. New director appointments bring pharmaceutical and global healthcare expertise, potentially strengthening governance and strategic direction. The preferential share issuance will dilute existing shareholders by ~87.92 lakh shares.