Biocon Secures Major Investment in Biocon Biologics from Goldman Sachs
Biotechnology firm Biocon Ltd announces its board's approval to acquire optionally convertible debentures of its subsidiary Biocon Biologics Ltd from Goldman Sachs for $198.5 million. The acquisition involves 1,125 OCDs, enhancing Biocon's strategic hold on Biocon Biologics and expanding its investment portfolio.
- Country:
- India
Biocon Ltd, a leading biotechnology firm, announced on Thursday that its board has approved the acquisition of optionally convertible debentures of its subsidiary, Biocon Biologics Ltd, from Goldman Sachs.
The agreement, valued at USD 198.5 million, was sanctioned during the board meeting held on June 26, 2025, aiming to strengthen Biocon's investment strategy in its unlisted subsidiary.
This move entails purchasing 1,125 unlisted, unsecured, redeemable, optionally convertible debentures. The transaction illustrates Biocon's significant financial commitment in Biocon Biologics, reflecting a strategic deepening of resources within its biotechnology operations.
(With inputs from agencies.)
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