Shardul Amarchand Mangaldas & Co. Advised Biocon Limited On Its ₹4,150 Crore Qualified Institutions Placement.
Shardul Amarchand Mangaldas & Co. advised Biocon Limited on its ₹4,150 crore Qualified Institutions Placement
The leading law firm in India, Shardul Amarchand Mangaldas & Co. (“SAM”) acted as legal counsel to Biocon Limited on its ₹4,150 crore (approximately USD 460 million) Qualified Institutions Placement (“QIP”) of equity shares.
The QIP was undertaken in line with Biocon’s strategy to fully integrate its subsidiary, Biocon Biologics Limited, by combining businesses, and witnessed participation from leading institutional investors. The proceeds from the QIP are proposed to be used for payment of cash consideration to Mylan Inc. for acquisition of shares of Biocon Biologics Limited and repayment of related debt, repayment of debt in respect of the acquisition of compulsorily convertible debentures of Biocon Biologics Limited held by affiliates of Edelweiss, and general corporate purposes.
The SAM transaction team was led by Prashant Gupta (National Practice Head – Capital Markets) and Ruth Chenchiah (Partner), with support from Debolina Mitra (Senior Associate), Kunika Agarwal (Associate), and Dipti Tharwani (Associate).
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