SBI, ICICI Funds Said to Lead Bids in Oversubscribed Biocon Sale

An employee in protective clothing works inside the research and development center at the Biocon Ltd. campus in Bengaluru.
Photographer: Dhiraj Singh/Bloomberg

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January 13, 2026 at 6:04 AM UTC

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Indian drugmaker Biocon Ltd. drew demand for about four times the shares it offered to institutional investors, with interest largely coming from local mutual funds, according to people familiar with the matter.