Biocon To Acquire $198.5 Million Worth Of Debentures In Biocon Biologics

Biocon Ltd. on Thursday said its board has approved the acquisition of 1,125 optionally convertible debentures of its subsidiary Biocon Biologics Ltd. for $198.50 million.

Of this, 1,047 debentures will be purchased from Goldman Sachs India Alternative Investment Trust AIF Scheme-2, and 78 from Goldman Sachs India AIF Scheme-1, the company said in a stock exchange filing.

The total consideration may vary depending on the date of purchase, Biocon added.