Kiran Majumdar Shaw’s bio-pharmacical company Biocon Limited (Biocon LTD) launched its qualified Institutional Placement (QIP) on 16 June. With its help, the company is preparing to raise up to Rs 4,500 crore. The floor price is kept at Rs 340.20 per share. The stock markets have been told that the company may offer a discount of more than 5% at the floor price of the issue as per its discretion.
The stock is expected to rise well on June 17 after the new development. During the day, Moneycontrol quoted sources as saying that Biocon Limited will soon bring its QIP and maybe it will be launched this week. With the help of this fund, the company wants to reduce its debt and strengthen the balance sheet.
In April, the board approved to raise funds
On 23 April 2025, the Board of Biocon approved raising up to Rs 4,500 crore through the issues of securities including QIP, Rights issue or other sanctioned routes in one or more stages. Later, in an interview to Moneycontrol on May 14, Biocon founder and executive chairperson Kiran Mazumdar Shaw said that the company aims to complete the process of raising funds in 3 to 4 months.
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Share closed in green mark
Boyacon Limited’s stock closed at Rs 357.30 on June 16 at Rs 357.30 on BSE. The company’s market cap is Rs 42800 crore. The stock has climbed about 6 percent in a week. The company had 60.64 percent stake in the company till the end of March 2025.
In March quarter Biocon Profit increased by 154 percent
Biocon has a loan of about $ 1.2 billion. After exceptional items of Biocon in the January-March 2025 quarter, net profit increased by 154 percent to Rs 344.5 crore on an annual basis. It was Rs 135.5 crore a year ago. Revenue increased by 12.8 percent to Rs 4,417 crore from a year ago. Ebitda increased by 17.7 percent to Rs 1,078.2 crore as compared to Rs 915.9 crore in the March 2024 quarter.
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