Biocon shares in focus after launching QIP at floor price of Rs 340.20
Biocon shares: The decision comes after receiving approvals from the Board of Directors in April and from shareholders through a postal ballot earlier this month. On June 16, the Fund Raising Committee approved the issue's opening, set the floor price, and finalized the preliminary placement document dated the same day.
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Biocon share price performance
The shares of Biocon are expected to be in focus on Tuesday, June 17, after the company opened its Qualified Institutions Placement (QIP) issue on Monday, June 16. The company has set the floor price for the QIP at Rs 340.20 per equity share.'We wish to inform you that pursuant to the approval accorded by the Board of Directors of the Company (the 'Board'), at its meeting held on April 23, 2025, and the shareholders of the Company, pursuant to the special resolution passed through Postal Ballot on June 04, 2025, the Fund Raising Committee (the 'Committee') has at its meeting held today i.e. Monday, June 16, 2025, inter alia, passed the following resolutions: a. Authorizing the opening of the Issue today, i.e. Monday, June 16, 2025,' the company said in a regulatory filing.The decision follows approvals from the Board of Directors in April and shareholders via a postal ballot earlier this month. The Fund Raising Committee, in its meeting held on June 16, approved the opening of the issue, the floor price, and the preliminary placement document dated the same day.Biocon informed that the company will determine the issue price in consultation with the Book Running Lead Managers appointed in relation to the issue.Over the past year, the Biocon stock has gained 6.77%, while it is up 1.03% over the last 6 months. In the most recent 3-month period, the stock has risen by 10.65%, and over the past 1 month, it is up 5.24%. However, on a year-to-date (YTD) basis, the stock has declined by 3.12%. Biocon shares closed 0.5% higher at Rs 357.30 on the BSE on Monday.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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