Biocon Limited has received an order from the Reserve Bank of India (RBI), Mumbai, dated March 21, 2024, under the provisions of the Foreign Exchange and Management Act, 1999 (FEMA). Nature and details of the action(s) taken, initiated or order(s) passed: Compounding Order under Section 15(1) of the FEMA, and Rules /Regulations made thereunder. Penalty of INR 1,000,000.

Delay in filing of Form ESOP with the RBI for the purpose of reporting grant of employee stock options to Non-Resident employees. An application was filed by the Company for compounding of aforesaid delayed filing under the provisions of the FEMA.