<ul data-eligibleForWebStory="true"><li>Biocon has set the floor price at Rs 340.20 per share for a Rs 4,500-crore QIP.</li><li>The fundraising will take place through qualified institutional placement.</li><li>A discount of not more than 5% may be offered on the floor price.</li><li>Biocon received government approval for a generic diabetes medication, Liraglutide, on June 3.</li><li>Biocon Pharma, the company's subsidiary, also obtained approval for its Liraglutide drug product.</li><li>Shares of Biocon closed 0.52% higher at Rs 357.25 apiece on the NSE.</li><li>The stock has risen 8.80% in the last 12 months but fallen 2.22% year-to-date.</li><li>Out of 18 analysts tracking the company, 10 have a 'buy' rating on the stock, 3 recommend 'hold', and 5 suggest 'sell'.</li><li>The average of 12-month analysts' price target indicates a potential upside of 4.8%.</li></ul>

Biocon Sets Floor Price At Rs 340.20 For Rs 4,500-Crore QIP

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