Description

Biocon Limited lists 17,12,79,553 new equity shares issued at Rs. 405.78 per share through preferential allotment via share swap, with trading commencing January 12, 2026.

Summary

BSE has approved the listing of 17,12,79,553 new equity shares of Biocon Limited (Scrip Code: 532523) issued through preferential allotment on a share swap basis. The shares are issued at Rs. 405.78 per share (face value Rs. 5 + premium of Rs. 400.78) to non-promoters and will commence trading on January 12, 2026. All newly issued shares rank pari-passu with existing equity shares and are subject to a lock-in period until July 13, 2026.

Key Points

  • Total New Shares: 17,12,79,553 equity shares of Rs. 5/- face value each
  • Issue Price: Rs. 405.78 per share (Rs. 5 face value + Rs. 400.78 premium)
  • Allotment Basis: Preferential basis pursuant to share swap arrangement
  • Allottees: Non-promoters only
  • Date of Allotment: January 5, 2026
  • Trading Commencement: January 12, 2026 (Monday)
  • ISIN: INE376G01013 (same as existing shares)
  • Distinctive Numbers: 1336963636 to 1508243188
  • Share Rights: Rank pari-passu with existing equity shares

Regulatory Changes

No regulatory framework changes. This circular implements existing SEBI regulations regarding preferential allotment and listing of new securities.

Compliance Requirements

  • Lock-in Compliance: All 17,12,79,553 shares are locked-in until July 13, 2026 (6 months from allotment date)
  • Trading Members: Must update their systems to reflect the increased share capital and lock-in restrictions
  • Market Operations: Trading members should ensure that locked-in shares are not transferred or traded before the lock-in expiry date

Important Dates

  • Allotment Date: January 5, 2026
  • Trading Commencement: January 12, 2026
  • Lock-in Expiry: July 13, 2026

Impact Assessment

Market Impact: This represents a substantial increase in Biocon’s equity base through the issuance of over 171 million new shares. The share swap arrangement suggests a strategic corporate action, potentially an acquisition or merger transaction. The preferential allotment to non-promoters indicates external stakeholder participation.

Dilution Impact: Existing shareholders will experience dilution depending on the pre-issue share capital. The significant number of shares suggests a major capital event.

Liquidity Impact: Post lock-in expiry on July 13, 2026, the free float will increase substantially, potentially improving liquidity. However, the immediate impact is neutral as shares remain locked for 6 months.

Price Impact: The issue price of Rs. 405.78 provides a reference point for valuation. Market participants should monitor trading patterns when these shares become tradable on January 12, 2026, though actual free-float impact will occur only after lock-in expiry.

Impact Justification

Major capital event involving over 171 million new shares representing significant dilution; large-scale preferential allotment to non-promoters with 6-month lock-in period