Biocon buys out arm's remaining shareholders by allotting 8.7 mln shrs in co
This story was originally published at 10:03 IST on 30 June 2026
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MUMBAI – Biocon Ltd. Tuesday said it has allotted 8.79 million shares of the company on a preferential basis in dematerialised form as consideration for acquiring 11.54 million shares of its subsidiary, Biocon Biologics Ltd., held by 127 shareholders. The shares were allotted at an issue price of INR 376.41 per share, a discount of around 9% from the stock's closing price Monday, the company said in an exchange filing. Following the acquisition, Biocon Biologics has become a wholly-owned subsidiary of the company.
The equity shares allotted to selling shareholders of Biocon Biologics shall rank pari-passu, in all respects, along with the existing shares of the company, Biocon said. With this allotment, Biocon's share capital increased to 8.15 billion shares from 8.10 billion shares.
For the March quarter, Biocon had reported a consolidated net profit of INR 1.26 billion on revenues of INR 45.17 billion. At 0946 IST, its shares were at INR 412.85 on the National Stock Exchange, down 0.6% from Monday. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Arya S. Biju
Edited by Himanshi Gupta
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