Biocon Board Approves Rs 600 Crore Fundraising Through Private Placement of Commercial Papers

Biotechnology firm Biocon on Friday said its board has approved to raise up to Rs 600 crore in one or more tranches on a private placement basis. The company's board has approved issuance of commercial papers up to an amount not exceeding Rs 600 crore in one or more tranches on private placement basis, the company said in a regulatory filing.

It, however, did not disclose reasons for raising the capital.