Biocon CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 31 Dec 2025, 34 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• Increase in the Authorised Share Capital and consequential amendment to the Memorandum of Association of the Company

  33 for0 against
• Increase in the limits for making investments / extending loans and giving guarantees or providing securities in connection with loans to Persons / Bodies Corporate under Section 186 of the Companies Act, 2013.MoreLess

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Old Bridge Mutual Fund, PPFAS Mutual Fund, Unifi Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance and Transparency Concern: Inadequate Disclosures with regards to the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors and reasons not clear, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.
  • DSP Mutual Fund, Old Bridge Mutual FundAt the 2025 AGM, the company had sought shareholder approval to undertake inter-corporate transactions upto Rs. 80.0 bn over and above the statutory limits. The company now seeks approval to increase this limit to Rs. 200.0 bn over and above the statutory limits. Under the existing approval, the company has an available headroom of ~Rs. 41.0 bn. The company is in the process of integrating Biocon Biologics Limited (BBL), a 75.1% subsidiary, by making it a wholly owned subsidiary. Through resolutions #3 and #6, the company has sought shareholder approval for acquisition of shares from minority shareholders of BBL through a combination of cash and equity, aggregating ~Rs. 105.5 bn. Accordingly, the current headroom under the approved limit is insufficient to complete the proposed acquisition approved by the board. The shareholder notice states that the proposed increase in the inter-corporate transaction limit is intended to enable the acquisition of stake in Biocon Biologics Limited and to provide flexibility for future requirements. However, the company has sought shareholder approval for a rolling limit linked to net worth. While we recognize the need to increase the Section 186 limits, we do not support rolling limits and believe that the company should have sought approval for a fixed inter-corporate transaction limit for the proposed transaction. We do not support the resolution.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance and Transparency Concern: Inadequate Disclosures w.r.t. the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors and reasons not clear, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted due to the following reasons: • Rolling limit is linked to the net worth of the company instead of a monetary cap for provision of financial assistance. Such practice prevents periodical shareholder review. • The company can take a disproportionate amount of risk relative to its ownership stake without compelling justification.
  • HDFC Mutual FundWe do not support rolling limits linked to networth. We do not support the resolution.
  • HSBC Mutual FundA vote AGAINST this resolution is warranted due to • Rolling limit is linked to the net worth of the company instead of a monetary cap for provision of financial assistance. Such practice prevents periodical shareholder review.• The company can take a disproportionate amount of risk relative to its ownership stake without compelling justification.
  • Invesco Mutual FundAt the 2025 AGM, the company had sought shareholder approval to undertake inter-corporate transactions upto Rs. 80.0 bn over and above the statutory limits. The company now seeks approval to increase this limit to Rs. 200.0 bn over and above the statutory limits.Under the existing approval, the company has an available headroom of ~Rs. 41.0 bn. The company is in the process of integrating Biocon Biologics Limited (BBL), a 75.1% subsidiary, by making it a wholly owned subsidiary. The company has sought shareholder approval for acquisition of shares from minority shareholders of BBL through a combination of cash and equity, aggregating ~Rs. 105.5 bn. Accordingly, the current headroom under the approved limit is insufficient to complete the proposed acquisition approved by the board. The shareholder notice states that the proposed increase in the inter-corporate transaction limit is intended to enable the acquisition of stake in Biocon Biologics Limited and to provide flexibility for future requirements.However, the company has sought shareholder approval for a rolling limit linked to net worth. While we recognize the need to increase the Section 186 limits, we do not support rolling limits and believe that the company should have sought approval for a fixed inter-corporate transaction limit for the proposed transaction. We do not support the resolution
  • Jio BlackRock Mutual Fund, Unifi Mutual FundAt the 2025 AGM, the company had sought shareholder approval to undertake inter-corporate transactions upto Rs. 80.0 bn over and above the statutory limits. The company now seeks approval to increase this limit to Rs. 200.0 bn over and above the statutory limits.Under the existing approval, the company has an available headroom of ~Rs. 41.0 bn. The company is in the process of integrating Biocon Biologics Limited (BBL), a 75.1% subsidiary, by making it a wholly owned subsidiary. Through resolutions #3 and #6, the company has sought shareholder approval for acquisition of shares from minority shareholders of BBL through a combination of cash and equity, aggregating ~Rs. 105.5 bn. Accordingly, the current headroom under the approved limit is insufficient to complete the proposed acquisition approved by the board. The shareholder notice states that the proposed increase in the inter-corporate transaction limit is intended to enable the acquisition of stake in Biocon Biologics Limited and to provide flexibility for future requirements.However, the company has sought shareholder approval for a rolling limit linked to net worth. While we recognize the need to increase the Section 186 limits, we do not support rolling limits and believe that the company should have sought approval for a fixed inter-corporate transaction limit for the proposed transaction. We do not support the resolution.
  • Kotak Mahindra Mutual FundAt the 2025 AGM, the company had sought shareholder approval to undertake inter corporate transactions upto Rs. 80.0 bn over and above the statutory limits. The company now seeks approval to increase this limit to Rs. 200.0 bn over and above the statutory limits. Under the existing approval, the company has an available headroom of ~Rs. 41.0 bn. The company is in the process of integrating Biocon Biologics Limited (BBL), a 75.1% subsidiary, by making it a wholly owned subsidiary. The company has sought shareholder approval for a rolling limit linked to net worth. While we recognize the need to increase the Section 186 limits, we do not support rolling limits and believe that the company should have sought approval for a fixed inter corporate transaction limit for the proposed transaction. We do not support the resolution.
  • PPFAS Mutual Fund, Zerodha Mutual FundConcerns w.r.t. the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.

  18 for16 against
• Issuance of Equity Shares of the Company on preferential basis for consideration other than cash.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance and Transparency Concern: Inadequate Disclosures with regards to the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors and reasons not clear, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No concern on Issuance of Shares per-se. Governance and Transparency Concern: Inadequate Disclosures w.r.t. the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors and reasons not clear, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.
  • PPFAS Mutual Fund, Zerodha Mutual FundConcerns w.r.t. the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.

  21 for7 against
• Raising of funds in one or more tranches by issuance of equity shares and/or other securities.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, quant Mutual Fund, The Wealth Company Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance and Transparency Concern: Significant dilution; No clarity regarding whether Rights Issue will be opted for or not, and if yes, then for what portion will it be carried out. Concerns identified with regard to certain objects towards which the proceeds of the proposed issue are intended to be utilised. The same relates to an agreement in which concerns are identified on the different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors and reasons not clear, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance and Transparency Concern: Significant dilution; No clarity regarding whether Rights Issue will be opted for or not, and if yes, then for what portion will it be carried out. Concerns identified with regard to certain objects towards which the proceeds of the proposed issue are intended to be utilised. The same relates to an agreement in which concerns are identified on the different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors and reasons not clear, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.
  • Motilal Oswal Mutual Fund, The Wealth Company Mutual FundCompliant with law. Governance and Transparency Concern: Significant dilution; No clarity regarding whether Rights Issue will be opted for or not, and if yes, then for what portion will it be carried out.
  • PPFAS Mutual Fund, Zerodha Mutual FundConcerns w.r.t. the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.
  • quant Mutual FundSignificant dilution. No clarity on whether a Rights issue will be opted for, and if yes, then for what portion.

  19 for9 against
• Grant of special rights to Investors in compliance with applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

  ›Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance& Transparency Concern: Concerns with regards to the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors and reasons not clear, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.
  • Baroda BNP Paribas Mutual FundInvestors will become shareholders of Biocon post the transaction. Investors must have rights as per other Biocon shareholders with no special privilege given to any specific shareholder. Since resolution is towards grant of special rights, hence voted against.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. No major governance concern identified with the Resolution or rights per-se. Governance& Transparency Concern: Concerns w.r.t. the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors and reasons not clear, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved
  • PPFAS Mutual Fund, Zerodha Mutual FundConcerns w.r.t. the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.

  26 for8 against
• Material Related Party Transactions to be entered into between the Company and Mylan Inc., a related party of Biocon Biologics Limited, an unlisted material subsidiary of the Company.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance and Transparency Concern: The Company is buying BBL shares from Mylan through a combination of share swap and cash mode. The value of BBL shares for this transaction is arrived through a valuation report wherein BBL shares are valued. Hence, the overall valuation should be fair in order for consideration for cash component to be fair. Concerns are identified with regard to the valuation report as the same does not explain as to why different Swap Ratio are assigned for different investors under the same agreement, different settlement arrangement with different investors and reasons not clear, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance and Transparency Concern: The Company is buying BBL shares from Mylan through a combination of share swap and cash mode. The value of BBL shares for this transaction is arrived through a valuation report wherein BBL shares are valued. Hence, the overall valuation should be fair in order for consideration for cash component to be fair. Concerns are identified with regard to the valuation report as the same does not explain as to why different Swap Ratio are assigned for different investors under the same agreement, different settlement arrangement with different investors and reasons not clear, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved
  • PPFAS Mutual Fund, Zerodha Mutual FundConcerns w.r.t. the Underlying Transaction - the Company should explain as to why the proposed valuation is fair and reasonable despite different Swap Ratio for different investors under the same agreement, different settlement arrangement with different investors, why guaranteed returns only to select investors, significant difference in holding company discount determined, significant shift in projection estimates and significant gap in multiples of the entities involved.

  27 for7 against

Mutual fund votes, meeting of 8 Aug 2025, 30 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• To receive, consider and adopt the Audited Financial Statements (including audited consolidated financial statements) of the Company for the Financial Year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon.MoreLess

  30 for0 against
• To appoint Prof. Ravi Rasendra Mazumdar (DIN: 00109213) as Director, liable to retire by rotation, and being eligible, offers himself for re-appointment.

  30 for0 against
• To declare a final dividend of 10% i.e. ₹ 0.50/- per equity share for the Financial Year ended March 31, 2025.

  30 for0 against
• To re-appoint Naina Lal Kidwai (DIN: 00017806) as an Independent Director of the Company.

  30 for0 against
• To approve the payment of remuneration to Directors in case of absence / inadequate profits.

  30 for0 against
• To approve material related party transactions between Biocon Biologics Limited and Biosimilars Newco Limited, being direct and indirect subsidiaries of the Company.

  ›Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: Inadequate justification and inadequate basis of arm’s length pricing.
  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Inadequate justification and inadequate basis of arm’s length pricing.

  24 for6 against
• To approve material related party transactions between Biocon Biologics UK Limited and Biosimilars Newco Limited, being indirect subsidiaries of the Company.

  ›Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: Inadequate justification and inadequate basis of arm’s length pricing.
  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Inadequate justification and inadequate basis of arm’s length pricing.

  24 for6 against
• To approve material related party transactions between Biocon Sdn. Bhd. and Biosimilars Newco Limited, being indirect subsidiaries of the Company.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: Inadequate justification and inadequate basis of arm’s length pricing.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Inadequate justification and inadequate basis of arm’s length pricing.

  25 for5 against
• To approve material related party transactions between Biosimilars Newco Limited and Biocon Biologics Inc, USA, being indirect subsidiaries of the Company.

  ›Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: Inadequate justification and inadequate basis of arm’s length pricing.
  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Inadequate justification and inadequate basis of arm’s length pricing.

  24 for6 against
• To approve material related party transactions between Biosimilar Collaborations Ireland Limited and Biocon Biologics Germany, GmBH, being indirect subsidiaries of the Company.

  30 for0 against
• To approve material related party transactions between Biocon Biologics Limited and Biocon Biologics UK Limited, being direct and indirect subsidiaries of the Company.

  28 for0 against
• To approve material related party transactions between Biosimilars Newco Limited and Biosimilar Collaborations Ireland Limited, being indirect subsidiaries of the Company.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: Inadequate justification and inadequate basis of arm’s length pricing.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Inadequate justification and inadequate basis of arm’s length pricing.

  23 for5 against
• To approve material related party transactions between Biocon Sdn. Bhd. and Biocon Biologics Global PLC, being indirect subsidiaries of the Company.

  27 for0 against
• To approve material related party transactions between Biocon Biologics Global PLC and Biocon Biologics Inc, USA, being indirect subsidiaries of the Company.

  27 for0 against
• To approve material related party transactions between Biocon Biologics Limited and Biosimilar Collaborations Ireland Limited, being direct and indirect subsidiaries of the Company.

  27 for0 against
• To approve increase in the limits applicable for making investments / extending loans and giving guarantees or providing securities in connection with loans to persons / bodies corporate.

  ›Against Franklin Templeton Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted due to the presence of a rolling limit linked to the net worth of the company instead of a monetary cap, for provision of financial assistance. Such practice prevents periodical shareholder review.
  • HDFC Mutual FundWe do not favor rolling limits linked to net worth and recommend that companies seek approval for a fixed intercorporate transaction limit. We do not support the resolution.
  • HSBC Mutual FundA vote AGAINST this resolution is warranted due to the presence of a rolling limit linked to the net worth of the company instead of a monetary cap, for provision of financial assistance. Such practice prevents periodical shareholder review
  • Invesco Mutual FundAs on 31 March 2025, the aggregate value of investments and loans made and guarantee and securities issued by the company amounts to Rs. 123.68 bn. The current approved limit under section 186 is Rs. 157.0 bn. The company seeks approval to increase the limits under Section 186 to upto Rs 80.0 bn over and above the limit of 60% of the paid-up share capital, free reserves and securities premium account of the company or 100% of free reserves and securities premium account of the company, whichever is more.We recognize that the company needs to make additional investments in its subsidiary, Biocon Biologics Limited (BBL), including the purchase of optionally convertible debentures (OCDs) worth Rs. 17.0 bn from an existing investor. Further, the company is also required to meet put option obligations and other financial commitments extended to various investors in connection with their investments in BBL. (BBL). However, we do not favour rolling limits linked to net worth and recommend that companies seek approval for a fixed intercorporate transaction limit. Hence, we do not support the resolution

  20 for4 against
• To approve the appointment of Secretarial Auditors of the Company.

  30 for0 against
• To ratify the remuneration of Cost Auditors for the Financial Year 2025-26.

  7 for0 against

Mutual fund votes, meeting of 4 Jun 2025, 28 fund houses

• INCREASE IN AUTHORISED SHARE CAPITAL OF THE COMPANY AND CONSEQUENTIAL AMENDMENT TO THE MEMORANDUM OF ASSOCIATION OF THE COMPANY.

  28 for0 against
• RAISING OF FUNDS IN ONE OR MORE TRANCHES, BY ISSUANCE OF EQUITY SHARES AND/OR OTHER SECURITIES.

  ›Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, Edelweiss Mutual FundTransparency & Governance Concern: Significant Dilution; lack of adequate justification, no urgency of funds.
  • Baroda BNP Paribas Mutual FundAlthough legally compliant, it lacks transparency and no clearly defined objective.
  • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Transparency & Governance Concern: Significant Dilution; lack of adequate justification, no urgency of funds.
  • PPFAS Mutual FundSignificant Dilution; lack of adequate justification, no urgency of funds

  20 for8 against

Mutual fund votes, meeting of 30 Mar 2025, 27 fund houses

• To approve material related party transaction(s) between Biocon Biologics UK Limited and Biosimilars Newco Limited, being indirect subsidiaries of the Company

  27 for0 against

Mutual fund votes, meeting of 22 Sep 2024, 28 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) BETWEEN BIOCON BIOLOGICS LIMITED AND BIOCON BIOLOGICS GLOBAL PLC, BEING DIRECT AND INDIRECT SUBSIDIARIES OF THE COMPANY

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. Transparency Concern: Inadequate disclosures; Omnibus approval without limit on each transaction with each specific entity involved in Individual Resolution.
  • PPFAS Mutual FundInadequate disclosures, omnibus approval without specific limits

  18 for6 against
• TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) BETWEEN BIOCON BIOLOGICS UK LIMITED AND BIOCON BIOLOGICS GLOBAL PLC, BEING INDIRECT SUBSIDIARIES OF THE COMPANY

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. Transparency Concern: Inadequate disclosures; Omnibus approval without limit on each transaction with each specific entity involved in Individual Resolution.
  • PPFAS Mutual FundInadequate disclosures, omnibus approval without specific limits

  18 for6 against
• TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) BETWEEN BIOSIMILARS NEWCO LIMITED AND BIOCON BIOLOGICS GLOBAL PLC, BEING INDIRECT SUBSIDIARIES OF THE COMPANY

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. Transparency Concern: Inadequate disclosures; Omnibus approval without limit on each transaction with each specific entity involved in Individual Resolution.
  • PPFAS Mutual FundInadequate disclosures, omnibus approval without specific limits

  18 for6 against
• TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) BETWEEN BIOSIMILAR COLLABORATIONS IRELAND LIMITED AND BIOCON BIOLOGICS GLOBAL PLC, BEING INDIRECT SUBSIDIARIES OF THE COMPANY

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. Transparency Concern: Inadequate disclosures; Omnibus approval without limit on each transaction with each specific entity involved in Individual Resolution.
  • PPFAS Mutual FundInadequate disclosures, omnibus approval without specific limits

  18 for6 against
• TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) BETWEEN BIOCON SDN BHD AND BIOCON BIOLOGICS GLOBAL PLC, BEING INDIRECT SUBSIDIARIES OF THE COMPANY

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. Transparency Concern: Inadequate disclosures; Omnibus approval without limit on each transaction with each specific entity involved in Individual Resolution.
  • PPFAS Mutual FundInadequate disclosures, omnibus approval without specific limits

  18 for6 against
• TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) BETWEEN BIOCON BIOLOGICS LIMITED AND BIOSIMILARS NEWCO LIMITED, BEING DIRECT AND INDIRECT SUBSIDIARIES OF THE COMPANY

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. Transparency Concern: Inadequate disclosures; Omnibus approval without limit on each transaction with each specific entity involved in Individual Resolution.
  • PPFAS Mutual FundInadequate disclosures, omnibus approval without specific limits

  18 for6 against
• TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) BETWEEN BIOCON BIOLOGICS UK LIMITED AND BIOSIMILARS NEWCO LIMITED, BEING INDIRECT SUBSIDIARIES OF THE COMPANY

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. Transparency Concern: Inadequate disclosures; Omnibus approval without limit on each transaction with each specific entity involved in Individual Resolution.
  • PPFAS Mutual FundInadequate disclosures, omnibus approval without specific limits

  18 for6 against
• TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) BETWEEN BIOSIMILAR COLLABORATIONS IRELAND LIMITED AND BIOSIMILARS NEWCO LIMITED, BEING INDIRECT SUBSIDIARIES OF THE COMPANY

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. Transparency Concern: Inadequate disclosures; Omnibus approval without limit on each transaction with each specific entity involved in Individual Resolution.
  • PPFAS Mutual FundInadequate disclosures, omnibus approval without specific limits

  22 for6 against
• TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) BETWEEN BIOCON SDN BHD AND BIOSIMILARS NEWCO LIMITED, BEING INDIRECT SUBSIDIARIES OF THE COMPANY

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. Transparency Concern: Inadequate disclosures; Omnibus approval without limit on each transaction with each specific entity involved in Individual Resolution.
  • PPFAS Mutual FundInadequate disclosures, omnibus approval without specific limits

  18 for6 against
• TO APPROVE SALE, DISPOSAL AND LEASING OF ASSETS EXCEEDING 20% OF THE ASSETS OF MATERIAL SUBSIDIARIES OF THE COMPANY

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Zerodha Mutual FundCompliant with law. Governance Concern: Interlinked with resolutions #1 to #9.
  • Motilal Oswal Mutual Fund"Compliant with law. Governance Concern: Interlinked with resolutions #1 to #9. "
  • PPFAS Mutual FundInterlinked with resolutions #1 to #9.

  22 for6 against

Mutual fund votes, meeting of 9 Aug 2024, 28 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• To receive, consider and adopt the Audited Financial Statements (including audited consolidated financial statements) of the Company for the Financial Year ended March 31, 2024 and the reports of the Board of Directors and Auditors thereonMoreLess

  28 for0 against
• To appoint Mr. Eric Vivek Mazumdar (DIN: 09381549) as Director, liable to retire by rotation, and being eligible, offers himself for re-appointment

  ›Against DSP Mutual Fund, Edelweiss Mutual Fund, Invesco Mutual Fund, Sundaram Mutual Fund

  • DSP Mutual Fund, Sundaram Mutual FundEric Vivek Mazumdar, 31, has been Assistant Professor of Computing & Mathematical Sciences and Economics at the California Institute of Technology since August 2021 (as per public sources). He is the son of Non-Executive Non-Independent Director, Ravi Mazumdar and is Ms. Kiran Mazumdar Shaw’s nephew. He has served on the board of the company since November 2021. He has attended all six board meetings (100%) held during FY24. He retires by rotation. While academically well qualified, we believe he does not have sufficient experience to be on the board of a listed company. Hence, we do not support the resolution.
  • Edelweiss Mutual FundDoesn't have the right experience to guide the board
  • Invesco Mutual FundEric Vivek Mazumdar, 31, has been Assistant Professor of Computing & Mathematical Sciences and Economics at the California Institute of Technology since August 2021 (as per public sources). He is the son of Non-Executive Non-Independent Director, Ravi Mazumdar and is Ms. Kiran Mazumdar Shaw’s nephew. He has served on the board of the company since November 2021. He has attended all six board meetings (100%) held during FY24. He retires by rotation. While academically well qualified, we believe he does not have sufficient experience to be on the board of a listed company. Hence, we do not support the resolution

  24 for4 against
• To declare a final dividend of 10% i.e. Re. 0.50/- per equity share for the Financial Year ended March 31, 2024

  28 for0 against
• To appoint Mr. Atul Dhawan (DIN: 07373372) as an Independent Director of the Company

  28 for0 against
• To re-appoint Ms. Kiran Mazumdar-Shaw (DIN: 00347229) as an Executive Director (designated as an “Executive Chairperson ) of the Company

  ›Against Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Excessive Time Commitments, Holding position of Executive Chairperson.
  • PPFAS Mutual FundHolding Executive chairman position, Excessive time commitment
  • Zerodha Mutual FundGovernance Concern: Excessive Time Commitments, Holding position of Executive Chairperson.

  23 for5 against
• To re-appoint Mr. Siddharth Mittal (DIN: 03230757) as the Managing Director of the Company

  28 for0 against
• To approve Biocon Restricted Stock Unit Long Term Incentive Plan FY 2025-29 and grant of Restricted Stock Units to eligible employees of the Company

  ›Against Axis Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund

  • Axis Mutual FundUnder the scheme 6,539,000 restricted stock units (RSUs) would be granted to eligible employees at an exercise price of Rs. 5.0 per option. We do not favour stock option schemes where options are granted at a significant discount (>20%) to market price since stock options are ‘pay at risk’ options that employees accept at the time of grant. The company has clarified that the NRC has the ultimate authority for administration and superintendence of this scheme. The company has not disclosed granular performance-metrics that will determine the vesting of performance-based grants.
  • Edelweiss Mutual FundExercise price too low to act as an incentive
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because the weights of the metrics, threshold, and targets on the performance conditions for vesting, have not been disclosed.
  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
  • HSBC Mutual FundA vote AGAINST this resolution is warranted because: • The weights of the metrics, threshold, and targets on the performance conditions for vesting, have not been disclosed.
  • Invesco Mutual FundUnder the scheme 6,539,000 restricted stock units (RSUs) would be granted to eligible employees at an exercise price of Rs. 5.0 per option. We do not favour stock option schemes where options are granted at a significant discount (>20%) to market price since stock options are ‘pay at risk’ options that employees accept at the time of grant. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We make an exception in cases where the vesting of such options is mandatorily linked to detailed performance parameters, which must be disclosed in the shareholder notice and must align to shareholder interests In this case, the actual number of RSUs to be vested each year for each grantee shall be based on individual performance conditions, including growth in revenue, profits, cashflow and ROC, shareholder value creation and such other conditions as may be determined by the MD and CEO in accordance with the terms set by the Committee. The company has clarified that the NRC has the ultimate authority for administration and superintendence of this scheme. The company has not disclosed granular performance-metrics that will determine the vesting of performance-based grants. Thus, we are unable to support the resolution
  • Kotak Mahindra Mutual FundUnder the scheme, 6,539,000 restricted stock units (RSUs) would be granted to eligible employees at an exercise price of Rs. 5.0 per option. We do not favour ESOP plans where options are granted at a significant discount to the market price. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. The company has not disclosed granular performance metrics that will determine the vesting of performance-based grants. Thus, we are unable to support the resolution
  • Mirae Asset Mutual FundESOP pricing at significant discount to market price

  16 for8 against
• Authorization for secondary acquisition of equity shares of the Company by Biocon India Limited Employees Welfare Trust for implementation of ‘Biocon Restricted Stock Unit Long Term Incentive Plan FY 2025-29MoreLess

  ›Against Axis Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, DSP Mutual Fund, Invesco Mutual Fund, Sundaram Mutual FundThe company will implement the Restricted Stock Unit Long Term Incentive Plan FY 2025-29 by way of secondary acquisition of shares by the trust. Through resolution #8, the company seeks shareholder approval for secondary acquisition of a maximum of 6.54 million shares (scheme size) by the trust. Our view on this resolution is linked to our view on resolution #7.
  • Edelweiss Mutual FundExercise price too low to act as an incentive
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because the weights of the metrics, threshold, and targets on the performance conditions for vesting, have not been disclosed.
  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
  • HSBC Mutual FundA vote AGAINST this resolution is warranted because: • The weights of the metrics, threshold, and targets on the performance conditions for vesting, have not been disclosed.
  • Kotak Mahindra Mutual FundThe company will implement the Restricted Stock Unit Long Term Incentive Plan FY 2025- 29 by way of secondary acquisition of shares by the trust. Through resolution #8, the company seeks shareholder approval for secondary acquisition of a maximum of 6.54 million shares (scheme size) by the trust. Our view on this resolution is linked to our view on resolution #7.
  • Mirae Asset Mutual FundESOP pricing at significant discount to market price

  18 for10 against
• To approve grant of Restricted Stock Units to the employees of present and future subsidiary company(ies) under Biocon Restricted Stock Unit Long Term Incentive Plan FY 2025-29

  ›Against Axis Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual FundThrough resolution #9, the company seeks approval to extend the benefits of the RSU Plan FY25-29 to the employees of present and future subsidiaries. While we support the grant of RSUs to employees of unlisted subsidiaries, our view on this resolution is linked to our view on resolution #7.
  • DSP Mutual Fund, Kotak Mahindra Mutual Fund, Sundaram Mutual FundThrough resolution #9, the company seeks approval to extend the benefits of the RSU Plan FY25-29 to the employees of present and future subsidiaries. While we support the grant of RSUs to employees of unlisted subsidiaries, our view on this resolution is linked to our view on resolution #7. Hence, we do not support the resolution.
  • Edelweiss Mutual FundExercise price too low to act as an incentive
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because the weights of the metrics, threshold, and targets on the performance conditions for vesting, have not been disclosed.
  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
  • HSBC Mutual FundA vote AGAINST this resolution is warranted because: • The weights of the metrics, threshold, and targets on the performance conditions for vesting, have not been disclosed.
  • Invesco Mutual FundThrough resolution #9, the company seeks approval to extend the benefits of the RSU Plan FY25-29 to the employees of present and future subsidiaries. While we support the grant of RSUs to employees of unlisted subsidiaries, our view on this resolution is linked to our view on resolution #7. Hence, we do not support the resolution
  • Mirae Asset Mutual FundESOP pricing at significant discount to market price

  18 for10 against
• To approve material related party transactions between Biocon Biologics Limited and Biocon Biologics UK Limited, being direct and indirect subsidiaries of the Company

  27 for0 against
• To approve material related party transactions between Biocon Biologics Limited and Biosimilars Newco Limited, being direct and indirect subsidiaries of the Company

  27 for0 against
• To approve material related party transactions between Biocon Biologics Limited and Biosimilar Collaborations Ireland Ltd., being direct and indirect subsidiaries of the Company

  27 for0 against
• To approve material related party transactions between Biocon Biologics Limited and Biocon Biologics Inc., USA, being direct and indirect subsidiaries of the Company

  27 for0 against
• To approve material related party transactions between Biocon Biologics Limited and Biocon Biologics France S.A.S., being direct and indirect subsidiaries of the Company

  27 for0 against
• To approve material related party transactions between Biocon Biologics Limited and Biocon Biologics Germany GmbH, being direct and indirect subsidiaries of the Company

  27 for0 against
• To approve material related party transactions between Biocon Biologics UK Limited and Biosimilars Newco Limited, being indirect subsidiaries of the Company

  27 for0 against
• To approve material related party transactions between Biocon SDN BHD, Malaysia and Biosimilars Newco Limited, being indirect subsidiaries of the Company

  28 for0 against
• To approve material related party transactions between Biosimilars Newco Limited and Biocon Biologics Inc., USA, being indirect subsidiaries of the Company

  27 for0 against
• To approve material related party transactions between Biosimilar Collaborations Ireland Limited and Biocon Biologics France S.A.S., being indirect subsidiaries of the Company

  27 for0 against
• To approve material related party transactions between Biosimilar Collaborations Ireland Limited and Biocon Biologics Germany GmbH, being indirect subsidiaries of the Company

  27 for0 against