Biocon Strengthens Control Over Biologics Unit, Issues Shares to Mylan, Other Investors
Bengaluru: Biocon Limited has allotted shares to Mylan Inc., giving the US-based company a 6.10% stake in Biocon's paid-up share capital through a preferential allotment. The investment marks a significant non-promoter stake and forms part of a broader strategic transaction involving Biocon's unlisted subsidiary, Biocon Biologics Limited (BBL).
As per filings under SEBI (SAST) Regulations, Mylan Inc. has been allotted 9,19,67,019 equity shares of Biocon Limited. This transaction is linked to a strategic share swap and acquisition deal with BBL. Following an extraordinary general meeting of shareholders on December 31, 2025, Biocon acquired 26,19,17,480 equity shares of BBL from Mylan, Serum Institute Life Sciences Pvt. Ltd., Tata Capital Growth Fund II, and Activ Pine LLP.
To settle the acquisition, Biocon issued 17,12,79,553 equity shares on a preferential basis to the allottees. Post-allotment, shareholding stands as: Mylan 6.10%, Serum Institute 3.68%, Tata Capital Growth Fund II 0.41%, and Activ Pine LLP 1.17%, totaling 11.36% for all allottees.
Additionally, Biocon completed the cash acquisition of 7,18,34,691 BBL shares from Mylan for USD 200 million, part of a total approved USD 400 million deal. Following these transactions, Biocon now holds approximately 94% of BBL’s paid-up equity capital on a fully diluted basis.
The Fund Raising Committee meeting authorizing the allotments was held on January 5, 2026, and the company’s total paid-up equity capital increased from INR 6,68,48,18,175 to INR 7,54,12,15,940.
Rajesh U. Shanoy, Company Secretary and Compliance Officer, Biocon Limited, said, “The equity shares allotted shall rank **pari-passu, in all respects, with the existing equity shares of the Company.”
