Biocon Limited has issued a quarterly certificate confirming the utilisation of proceeds from its commercial paper (CP) issuance for the quarter ending 31 March 2026. The total issuance of CPs during the calendar year up to this quarter amounted to Rs 200 crore.
The company certified that the CPs were issued for the purposes specified in Annexure I, with proceeds utilised accordingly. Biocon confirmed adherence to all other listing conditions as outlined in the application for listing. The asset classification of fund-based facilities from banks and financial institutions remains “Standard.”
Biocon assured that there has been no material change in its financial status that could negatively impact the credit rating of the commercial paper.
The CPs were issued on two occasions: one on 22 December 2025, with an ISIN of INE376G14040, valued at Rs 1800 crore, and maturing on 20 March 2026. The funds from this issuance were used for the acquisition of equity shares in a subsidiary. The second issuance occurred on 2 January 2026, with an ISIN of INE376G14057, valued at Rs 200 crore, and maturing on 3 March 2026. The proceeds were used for the redemption of debentures issued by Biocon and the acquisition of debentures issued by a subsidiary.
Biocon has fully bought back and fulfilled its payment obligations for both CPs as of 30 January 2026.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).