Biocon Biologics mulls raising up to Rs 4,500 crore in bonds

Biocon Biologics Ltd. is considering raising Rs 4,000- 4,500 crore ($540 million) from India’s local-currency bond market in a few months, according to people familiar with the matter.

The company is in discussions with banks for the issuance, the people said, asking not to be named because the details are private. Funds from the bond sale will be used to refinance debt raised earlier to pay for an acquisition, with the terms yet to be finalized, they said.

“We would not like to comment on any rumours or market speculation,” the company’s spokesperson said by email.


Biocon Biologics, a unit of Biocon Ltd., has a pipeline of 20 biosimilar assets related to diabetology, oncology, immunology, ophthalmology, and other non-communicable diseases, according to the company’s website.

In November 2022, the company completed the acquisition of the global biosimilars business of Viatris Inc. The deal included a $1.2 billion sustainability-linked loan and an equity infusion of $850 million.