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Biocon raises Rs 4,500 crore via QIP, its first equity fundraise since 2004 IPO
MUMBAI: If the stock market had a hall of fame for patience, Biocon would deserve a shiny plaque. After two decades since its IPO debut in 2004, the Bengaluru-based biopharma giant returned to the equity markets, raising Rs 4,500 crore through a qualified institutions placement (QIP) that closed on 19 June 2025.
The fundraise saw 13,63,63,635 equity shares priced at Rs 330 each (face value Rs 5, including a premium of Rs 325), and attracted a swarm of top-tier investors. The final orderbook featured heavyweights like SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Life Insurance, Nippon India Mutual Fund, Mirae Asset, Aditya Birla Mutual Fund, Franklin Templeton, SBI General Insurance, Norway’s Government Pension Fund Global, and Blackrock.
“The strong response to our QIP reflects deep investor conviction in Biocon’s differentiated strategy and consistent execution”, said MD & CEO Siddharth Mittal. “This capital raise further strengthens our balance sheet, enabling us to invest in innovation, expand global access to lifesaving biopharmaceuticals, and advance our purpose of delivering affordable healthcare solutions”.
Biocon plans to channel the proceeds towards multiple priorities: acquiring outstanding optionally convertible debentures issued by Biocon Biologics Ltd to Goldman Sachs’ India AIFs, repaying and prepaying select financial instruments and borrowings, and covering other corporate obligations.
This marks Biocon’s first equity fundraise in 21 years, and it didn’t disappoint. Backed by a diverse mix of domestic mutual funds, insurance firms and foreign institutional investors, the transaction not only widened the company’s investor base but also reinforced trust in its long-term business vision.
With shareholder approval secured via postal ballot on 4 June 2025, the QIP positions Biocon for its next growth sprint. Post-issue, the promoter and promoter group’s shareholding stands at 54.45 per cent.
Kotak Mahindra Capital, BofA Securities India and Goldman Sachs India served as book running lead managers. Legal counsel included JSA Advocates & Solicitors for Biocon, and Cyril Amarchand Mangaldas and Linklaters Singapore for the lead managers.
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SPNI promotes Tavishi Budhiraja to vice president for HR and DEI
Longtime HR leader steps up to drive revenue teams and inclusion agenda
GURUGRAM: Sony Pictures Networks India has elevated Tavishi Budhiraja to vice president, HR business partner for revenue functions and diversity and inclusion, strengthening its people leadership across key business verticals.
In her expanded role, Budhiraja will oversee HR strategy for revenue-facing teams including ad sales across linear and digital, distribution and international business, while continuing to lead the company’s diversity and inclusion initiatives.
Budhiraja has been with the network for over 15 years, rising through the ranks from HR business partner for ad sales to assistant vice president, where she also took on the diversity and inclusion mandate. Her elevation reflects both continuity and a sharper focus on aligning people strategy with business growth.
Prior to joining SPNI, she worked with Reliance Communications as deputy manager, gaining early experience in human resources.
Announcing the move, Budhiraja said she looks forward to deepening impact and strengthening people strategies across teams, while continuing to grow within the organisation.
The promotion comes as media companies increasingly invest in talent and workplace culture to support evolving revenue models and digital expansion, making HR leadership a critical lever for long-term growth.
