Biocon has received approval for purchase of equity shares of Biocon Biologics (BBL), a material subsidiary of the Company, from one of its existing investors pursuant to liquidity option exercised by them. This would result in an increase in the company’s equity shareholding in BBL by 1.5%. Post this purchase, Biocon’s stake in BBL will be 90.2%.
Cost of acquisition is Rs 555 crore. The purchase shall be completed on or before February 01, 2025, subject to the completion of necessary formalities. The Board of Directors at its meeting held on January 30, 2025, has approved the same.
Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.
