STOCKWATCH

Biocon Ltd Acquires Majority Shares in Subsidiaries Biocon Biosphere and Biocon Pharma

Biocon Ltd has acquired 11,53,44,285 Optionally Convertible Redeemable Non-Cumulative Preference Shares (OCRPS) of Biocon Biosphere Limited and 20,00,00,000 OCRPS of Biocon Pharma Limited, both wholly owned subsidiaries. The total consideration for the acquisition is Rs. 1,15,34,42,850 for Biocon Biosphere and Rs. 2,00,00,00,000 for Biocon Pharma. This acquisition gives Biocon 100% control over the paid-up share capital in respect of equity shares as well as OCRPS of both subsidiaries.

• Biocon Ltd acquires majority shares in its subsidiaries Biocon Biosphere and Biocon Pharma.
• The total consideration for the acquisition is Rs. 1,15,34,42,850 for Biocon Biosphere and Rs. 2,00,00,000 for Biocon Pharma.
• This acquisition gives Biocon 100% control over the paid-up share capital in respect of equity shares as well as OCRPS of both subsidiaries.
• Biocon Biosphere and Biocon Pharma are both incorporated under the Companies Act, 2013 and are engaged in pharmaceutical manufacturing.
• Biocon Biosphere has a Greenfield facility in Vizag for API fermentation capacity and Bengaluru for formulations manufacturing, while Biocon Pharma has a facility in Bengaluru for injectable facility for Peptides and oral solid dosages.