• Edelweiss Alternatives is exiting its investment in Biocon Biologics by selling compulsorily convertible debentures (CCDs) and non-convertible debentures (NCDs) back to Biocon Ltd. This early exit was facilitated through its ESOF III fund.
• Biocon will acquire approximately 10.686 million CCDs of Biocon Biologics, with a face value of Rs 300 crore, and redeem 50,000 NCDs worth Rs 500 crore. These transactions are subject to necessary approvals by January 31, 2026.
• The buyback of these instruments will increase Biocon's stake in its biosimilars unit by roughly 65 basis points. Biocon is also raising Rs 550 crore through commercial paper issuance.
• This move is part of Biocon's broader strategy to restructure Biocon Biologics' balance sheet and reduce debt, following previous buyouts of other investors like Goldman Sachs and Kotak. Biocon expects significant interest cost savings from debt reduction starting in FY27.

Roshan Abraham

​The Mumbai-based Edelweiss Group’s alternative investment arm is set to score an exit from a healthcare bet it made.........

Edelweiss Alts gets a quick exit window from healthcare bet

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Healthcare

​The Mumbai-based Edelweiss Group&rsquo;s alternative investment arm is set to score an exit from a healthcare bet it made just two-and-a-half years ago,...

EAAA India Alternatives

Edelweiss Alternative Asset Advisors Ltd

Biocon

Biocon Biologics

Goldman Sachs

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