Biocon Ltd. — Capital/Financing Update 2022

Nov 17, 2022

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Biocon Limited

20th KM, Hosur Road Electronic City Bangalore 560 100, India T 91 80 2808 2808 F 91 80 2852 3423 CIN : L24234KA1978PLC003417 www.biocon.com

November 17, 2022

To, The Manager BSE Limited Department of Corporate Services Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code- 532523	To, The Manager National Stock Exchange of India Limited Corporate Communication Department Exchange Plaza, Bandra Kurla Complex, Mumbai – 400 050 Scrip Symbol- Biocon

Subject: Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”).

Dear Sir/ Madam,

This is with reference to the proposed acquisition of biosimilars assets of Viatris Inc., by Biocon Biologics Limited (BBL), subsidiary of Biocon Limited, please be informed that BBL has allotted equity shares to Biocon Limited* and its affiliate for an amount of Rs. 3,081.99 Crores (~US$ 380 million) and to Serum Institute Life Sciences Private Limited for an amount of Rs. 1,237.49 Crores (~US$ 150 million) on November 16, 2022.

*In this regard, requisite disclosure w.r.t. acquisition by Biocon Limited pursuant to Regulation 30 read with Part A of Schedule III of SEBI Listing Regulations is enclosed as Annexure A.

We request you to take this on record.

Thanking you,

Yours faithfully,

For Biocon Limited

Digitally signed MAYANK by MAYANK VERMA VERMA Date: 2022.11.17 22:05:48 +05'30'

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Mayank Verma Company Secretary and Compliance Officer Membership No.: ACS 18776

ANNEXURE A

The details as required under SEBI Listing Regulations read with SEBI Circular No. CIR/CFO/CMD/4/2015 dated September 9, 2015 are as under: -

S. No.	Particulars	Details
1.	Name of the target entity, details in brief such as size, turnover etc.;	Biocon Biologics Limited (“BBL”), subsidiary of Biocon Limited, incorporated under the Companies Act, 2013, and having corporate identification number U24119KA2016FLC093936, and its registered office at Biocon House, Ground Floor, Tower-3, Semicon Park, Electronic City, Phase-II, Hosur Road, Bengaluru-560100. Net worth of BBL as on 31.03.2022: INR 22,522 Mn. Turnover of BBL as on 31.03.2022:INR23,728 Mn.
2.	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”;	The investment is in the shares of Biocon Limited’s existing subsidiary – BBL.
3.	Industry to which the entity being acquired belongs;	Pharmaceuticals.
4.	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);	Investment in BBL.
5.	Brief details of any governmental or regulatory approvals required for the acquisition;	Not Applicable.
6.	Indicative time period for completion of the acquisition;	Biocon Limited has subscribed to the equity shares and allotment has been made by BBL on November 16, 2022.
7.	Nature of consideration - whether cash consideration or share swap and details of the same;	Cash consideration.
8.	Cost of acquisition or the price at which the shares are acquired;	Rs. 1865.42 Crores.
9.	Percentage of shareholding / control acquired and / or number of shares acquired; name of parties to the agreement;	Biocon Limited's stake in BBL will be 88.15% post allotment of shares.
10.	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	BBL was incorporated in India on June 8, 2016 with an objective to set up Greenfield biosimilar biologics facilities. BBL is a unique, fully integrated global biosimilars organization. It is leveraging cutting-edge science, innovative tech platforms and advanced research & development capabilities to lower costs of biologics

S. No.	Particulars	Details
		therapies while improving healthcare outcomes. It has a strong research pipeline of biosimilar molecules across diabetes, oncology, immunology and other non-communicable diseases. With a team of over 5,000 people, BBL is committed to transforming healthcare and transforming lives by enabling affordable access to millions of patients’ worldwide. Last 3 years turnover in INR Mn: FY20: 17,911 FY21: 19,471 FY22: 23,728