The proceeds from the ?IP will be primarily utilized to meet the cash consideration payable to Mylan Inc. (Viatris) for buying out its shareholding in Biocon Biologics Limited
The proceeds from the QIP will be used primarily to accelerate the nationwide expansion of the COCO stores of Davaindia nationwide
The proceeds from the QIP will be utiized for purchase of outstanding optionally convertible debentures
The Issue opened on June 18, 2024 and closed on June 21, 2024
With this QIP placement, the Dhanuka group, which took over the company in 2018, is also meeting its mandatory obligation to dilute 15 percent stake in the company by March 2023
Biocon will acquire the residual stake held by Mylan (Viatris) for a total consideration of US$ 815 million
The quarter included three IPOs worth US$ 428 million and one Qualified Institutional Placement (QIP) worth US$ 88 million
Revenue from operations rose 14.8 per cent year-on-year to Rs. 3,942 crore
The company is making its mark through strategic initiatives, promising to become a significant presence in the evolving pharmaceutical sector
Morepen Labs successfully raised Rs. 200 Crore through QIP
Subscribe To Our Newsletter & Stay Updated
