Biocon to merge biologics unit into parent firm for ₹45,000cr
Biocon is bringing its Biologics business fully under the parent company in a major $5.5 billion merger.
The deal involves swapping shares with investors including Serum Institute, Tata Capital, and Activ Pine LLP, so for every 100 shares of Biocon Biologics, you get 70.28 shares of Biocon at ₹405.78 each.
What's happening next?
To wrap up the merger, Biocon will buy out the remaining stake from Viatris (Mylan Inc) for $815 million—some in cash, some in shares—and plans to raise up to ₹4,500 crore through a qualified institutional placement (QIP) to help pay for it.
Even with some debt still on the books, they're aiming for a more efficient and value-accretive structure across the company.
Once it's done (by March 2026), Shreehas Tambe will step in as CEO of the merged business and Siddharth Mittal will take on a new leadership role within the group.