Biocon issues INR 600 crore commercial papers

Biocon (BSE: 532523) announced today that it has issued commercial papers (CPs) totaling INR 600 crore. The CPs, issued on a private placement basis, have a maturity date of September 30, 2025, and offer an interest rate of 7.75%. The allotment date was April 22, 2025, with a tenure of 161 days. The instrument is proposed to be listed on the National Stock Exchange of India Limited, and has a credit rating of IND A1+. The CPs are issued in favor of SBI Mutual Fund – SBI Savings Fund and are unsecured.