Biocon Limited announced on March 03, 2026, the acquisition of Optionally Convertible Redeemable Non-Cumulative Preference Shares (OCRPS) in its wholly-owned subsidiaries, Biocon Biosphere Limited (BBSL) and Biocon Pharma Limited (BPL). The company acquired 11,53,44,285 OCRPS of ₹10 each in BBSL for a total consideration of ₹1,153.44 crore. This consideration includes ₹20 crore in cash and ₹931 crore from a previously provided loan along with accrued interest. BBSL, incorporated in 2019, is involved in pharmaceutical manufacturing of API and Generic formulations. Its turnover for FY 2024-25 was ₹130 million (₹13 crore). Biocon also acquired 20,00,00,000 OCRPS of ₹10 each in BPL for a cash consideration of ₹2,000 crore. BPL, incorporated in 2014, focuses on developing and manufacturing generic formulations for global markets. Its turnover for FY 2024-25 was ₹9,825 million (₹982.5 crore). These investments are intended for the ongoing business requirements, including working capital and capital expenditure needs of BBSL, and working capital and general corporate requirements of BPL. The transactions are considered related party transactions but are exempted under Regulation 23(5) of SEBI Listing Regulations as they are between a holding company and its wholly-owned subsidiaries, and are conducted on an arm's length basis. No governmental or regulatory approvals were required for these acquisitions.
