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Biocon Ltd. Capital/Financing Update 2022
61176_rns_2022-12-01_803f4aea-9e2e-41b8-a53d-abdc438baf18.pdf
Capital/Financing Update
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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
December 1, 2022
| To, | To, | ||
|---|---|---|---|
| The Manager | The Manager | ||
| BSE Limited | National Stock Exchange of India Limited | ||
| Department of Corporate Services | Corporate Communication Department | ||
| Phiroze Jeejeebhoy Towers, | Exchange Plaza, Bandra Kurla Complex | ||
| Dalal Street, Mumbai – 400 001 | Mumbai – 400 050 | ||
| Scrip Code – 532523 | Scrip Symbol - Biocon |
Subject: Intimation regarding Credit Rating under Regulation 30 of SEBI Listing Regulations.
Dear Sir/Madam,
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), please note that CRISIL Ratings ("CRISIL") has reviewed the ratings on bank facilities of the Company. In this regard, please find below the ratings outstanding for the bank loan facilities of the Company, and the rating actions by CRISIL on the ratings as on date-
| Total Bank Loan Facilities Rated | Rs. 250 Crore | |
|---|---|---|
| Long Term Rating | CRISIL AA+/Stable (Removed from 'Rating Watch with |
|
| Developing Implications', Rating Reaffirmed) |
||
| Short Term Rating | CRISIL A1+ (Reaffirmed) |
The rating letter received from CRISIL is attached as Annexure.
The above information will also be available on the website of the Company at www.biocon.com.
Kindly take the same on record and acknowledge.
Thanking You,
Yours faithfully,
For Biocon Limited
_____________ MAYAN K VERMA Digitally signed by MAYANK VERMA Date: 2022.12.01 12:30:20 +05'30'
Mayank Verma Company Secretary and Compliance Officer Membership No.: ACS 18776
Enclosed: Rating Letter from CRISIL
Ratings
CONFIDENTIAL
RL/BIINDW306529/BLR/ll22/47408 November 30, 2022
Mr. lndranil Sen Chief Financial Officer Biocon Limited 20th KM, Hosm Road Electronics City Bengalmu Urban - 560100
Dear Mr. Indranil Sen,
Re: Review of CRISIL Ratings on the bank facilities of Biocon Limited
All ratings assigned by CRISIL Ratings are kept under continuous surveillance and review.
Please find in the table below the ratings outstanding for the debt instrnments/facilities of the company, and the rating actions by CRISIL Ratings on the ratings as on date.
| Total Bank Loan Facilities Rated | Rs.250 Crore |
|---|---|
| Long Te1·m Rating | CRISIL AA+/St:able (Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed) |
| Short Tenn Rating | CRISIL Al+ (Reaffirmed) |
(Bank-wise details as per Annexure 1)
As per om Rating Agreement, CRISIL Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along witl1 the outlook, under surveillance over the life of the instrument/facility. CRISIL Ratings reserves the tight to withdlraw, or revise the ratings, along with the outlook, at any time, on the basis of new infonnation, or unavailability of infmmation, or other circlllllStances which CRISIL Ratings believes may have an impact on the ratings. Please visit www.crisilratings.com and search with tl1e name of the rated entity to access the latest rating/s.
In tl1e event of the company not availing the proposed faciliti:es witllin a period of 180 days from the date of this letter, a fresh letter of revalidation from CRISIL Ratings will be necessaiy.
Should you require any claiification, please feel free to get in touch with us.
With wam1 regai·ds,
Y oms sincerely,
Aditya Thaver Nivedita Shibu
~-.,. ~,-- _/
Director - CRISIL Ratings Associate Director - CRISIL Ratings ~
Disclaimer: A rating by CR/SIL Ratings reflects CR/SIL Ratings' c1HTent opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CR/SIL Ratings. Our ratings are based on inJ'ormation provided by the issuer or obtained by CR/SIL Ratings from sources it considers reliable. CR/SIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CR/SIL Rarings is not a recommendation to buy I sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CR/SIL Ratings has a practice of keeping all its rarings under surveillance and ratings are revised as and when circumstances so warrant. CR/SIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers I users I transmitters I distributors of its ratings. CR/SIL Ratings' criteria are available without charge to the public on the web site, www.crisilratings.com. CR/SIL Ratings or its associates may have oU-rer commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CR/SIL Ratings, please visitwww.crisilratingll.com or contact Customer Service He/pdesk at CR/S/[email protected] or at 1800- 267- 1301
CRISIL Ratings Limited
( A subsidiary of CRISIL Limited) Corporate Identity Nwnber: U6'7100MH2019PLC326247
Annexure 1 - Bank-wise details of va rious facility classes (outstanding facilities)
| S.No. | Bank Facility | Bank | Amount (Rs. in Crore) |
Outstanding Rating |
|---|---|---|---|---|
| l | Proposed Short Tenn Bank Loan Facility |
-- | 2 | CRISIL Al+ |
| 2 | Proposed Working Capital Facility |
-- | 148 | CRISIL AA+/Stable |
| 3 | Working Capital Facility | HDFC Bank Limited | 100 | CRISIL AA+/Stable |
| Total | 250 |
Disclaimer: A rating by CR/SIL Ratings reflects CR/SIL Ratings' c1HTent opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CR/SIL Ratings. Our ratings are based on inJ'ormation provided by the issuer or obtained by CR/SIL Ratings from solffces it considers reliable. CR/SIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CR/SIL Rarings is not a recommendation to buy I sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CR/SIL Ratings has a practice of keeping all its rarings under surveillance and ratings are revised as and when circumstances so warrant. CR/SIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers I users I transmitters I distributors of its ratings. CR/SIL Ratings' criteria are available without charge to the public on the web site, www.crisilratings.com. CR/SIL Ratings or its associates may have oU-rer commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CR/SIL Ratings, please visitwww.crisilratingll.com or contact Customer Service He/pdesk at CR/S/[email protected] or at 1800- 267- 1301
CRISIL Ratings Limited
( A subsidiary of CRISIL Limited) Corporate Identity Nwnber: U6'7100MH2019PLC326247