Corrigendum to the Postal Ballot Notice dated May 07, 2026
BIOCON · price
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Biocon Ltd has issued a Corrigendum to its Postal Ballot Notice dated May 07, 2026, making minor adjustments to a preferential share issuance. The company plans to issue 87,86,362 equity shares at Rs. 376.41 per share (floor price Rs. 373.08) to acquire shares from Biocon Biologics Limited (BBL) shareholders via a swap ratio of 0.76159. The total purchase consideration is Rs. 330.73 crores for 1,15,36,956 BBL shares from 127 allottees. This transaction aims to make BBL a wholly-owned subsidiary of Biocon. Post-issue, total equity increases from 162.09 crore to 162.97 crore shares, with promoter holding reducing marginally from 44.91% to 44.68%. One allottee (Ravi Rasendra Mazumdar) belongs to the Promoter Group.
Minor dilution for existing shareholders as ~87.86 lakh new shares will be issued. The swap transaction consolidates Biocon's ownership of its biologics subsidiary. Shareholders can modify their votes on this resolution up to June 7, 2026.