Biocon To Raise Up To ₹45 Billion Through Equity, Debt Instruments

Biocon Ltd. on Wednesday announced that it will raise up to ₹45 billion in one or more tranches,through the issuance of equity shares or debt instruments. The company’s board also approved an increase in its authorised share capital to ₹7 billion, divided into 1.4 billion shares of ₹5 each.

Currently, the company’s authorised share capital stands at ₹6.25 billion, divided into 1.25 billion shares of ₹5 each. The funds will be raised through methods such as qualified institutional placements, rights issues, preferential allotments, private placements, or any combination of these, Biocon said in an exchange filing.