Biocon subsidiary re-registers as PLC; credit ratings reaffirmed

Biocon Biologics UK Limited, a step-down subsidiary of Biocon Biologics Limited (BBL), has officially re-registered as a Public Limited Company (PLC) and changed its name to Biocon Biologics UK PLC, effective October 29, 2025. This contributes to Biocon's global footprint across biosimilars, generics, and research services.

In parallel, Biocon Limited received a credit rating letter from ICRA Limited on October 30, 2025, reaffirming its long-term and short-term ratings. An unallocated long-term/short-term instrument, amounting to Rs. 450.00 crore, received a reaffirmed rating of [ICRA]AA+(Stable)/[ICRA]A1+. This reaffirmation reflects ICRA's expectation of continued improvement in Biocon's credit profile over the near-to-medium term.

The ratings also consider Biocon's diversified business model, vertically integrated operations, and global presence, along with the company's efforts in deleveraging and strategic refinancing activities in FY2025, which included senior secured notes worth $800 million and a new syndicated term loan of $320 million for BBL.