Check live subscription status of Concord Biotech IPO on day 2

7 Aug 2023 , 11:25 AM

The Concord Biotech Limited’s initial public offering (IPO) opened for subscription on August 4, 2023, and will continue to accept public investment until August 8, 2023. On the first day of the offer, the IPO received bids for 85,05,660 shares out of the total of 1,46,50,957 shares on offer, which represents a 58% subscription rate, as reported by the National Stock Exchange (NSE). 

Investors have made bids for 1,62,94,620 equity shares, accounting for 1.11 times of the 1,46,50,957 equity shares available for subscription by 11:30 am on Monday, August 07, 2023.

The retail investors’ quota reached a subscription level of 1.27 times, while non-institutional bidders secured2.20 times, and the employee portion was over-subscribed by 10.12 times. However, the qualified institutional bidders (QIBs) segment subscribed only 0.01 times of the allocated quota.

Concord Biotech Limited is offering its shares within the price range of Rs 705 to Rs 741 per share during the three-day bidding period. Investors can place bids starting from a minimum of 20 equity shares and in multiples of that amount thereafter. The IPO consists entirely of an offer-for-sale, comprising up to 20,925,652 crore equity shares, being sold by its shareholder Hellix Investment Holdings.

Concord Biotech IPO important details:

Open date	4 August 2023
Close date	8 August 2023
Lot size	20 shares
IPO size (Rs crore)	Rs 1551 crore
IPO price range (Rs)	Rs 705-741
Minimum investment	Rs 14,820
Basis of allotment date	11 August 2023
Refunds date	14 August 2023
Credit to demat account date	17 August 2023
Listing date	18 August 2023