Biocon launches QIP at ₹340.20 floor price

economictimes.indiatimes.com

Biocon launched a Qualified Institutions Placement (QIP) issue with a floor price of Rs 340.20 per equity share, potentially impacting its stock. The QIP launch follows approvals from Biocon's Board of Directors in April and shareholder approval via postal ballot earlier in June. The Fund Raising Committee approved the issue's opening and finalized the placement document on June 16. Biocon's stock closed slightly higher on Monday. The company will determine the final issue price in consultation with appointed Book Running Lead Managers.


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