Kiran Mazumdar Shaw-Backed Pharma Company is Likely to Raise Funds by Way of Issue of Equity Shares
The company has been maintaining a healthy dividend payout of 18 per cent.
Biocon Ltd informed that the meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, April 23, 2025, inter alia, to consider and approve the proposal for raising of funds by way of issue of equity shares or any other eligible securities, through one or more of the permissible modes including but not limited to qualified institutions placement, rights issue, preferential issue, further public offer, etc., subject to requisite approvals under the applicable laws, including approval of shareholders of the Company, as may be required, in this regard.
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Biocon Ltd., an Indian biopharmaceutical company, primarily focuses on the development and manufacturing of biotechnology products and the provision of research services. A significant portion of its revenue, approximately 60% in FY24 (up from 50% in FY23), is generated by its biosimilars business, which is managed under the entity Biocon Biologics. This segment boasts a diverse portfolio of 20 biosimilars targeting therapeutic areas such as oncology, immunology, and diabetes. Notably, Biocon has been successful in expanding its market share for key biosimilar products like bTrastuzumab, bPegfilgrastim, bGlargine, and bBevacizumab within advanced markets and aims to launch over 20 more biosimilar molecules by the year 2030.
The company has a market cap of Rs 39,728 crore where Kiran Mazumdar Shaw (promoter of the company) holds a 40.36 per cent stake in the company. The company has been maintaining a healthy dividend payout of 18 per cent. Investors should keep an eye on this pharma stock.
Disclaimer: The article is for informational purposes only and not investment advice.