Concord Biotech IPO opening on August 4; key details to watch out

31 Jul 2023 , 02:16 PM

R&D-driven biopharma company, Concord Biotech, which is backed by late Rakesh Jhunjhunwala’s firm Rare Enterprises is all set to open on August 4. 

Concord is a prominent manufacturer specializing in fermentation-based biopharmaceutical APIs, with a strategic focus on niche segments, including immune suppressants, oncology, anti-fungal, and anti-bacterial products. The company operates three manufacturing facilities in Gujarat, namely Valthera, Dholka, and Limbasi.

Key details of Concord Biotech IPO:

• IPO dates: The initial public offer of Concord Biotech will open for subscription on August 4 and will close on August 8. The anchor book will launch on August 3.
• Issue size: The company is going to raise Rs 1551 crore from the IPO which is completely an offer for sale of 2.09 crore equity shares by Helix Investment Holdings Pte Limited, the private fund operated by Quadria Capital.
• Issue price: The company has fixed IPO price band in the range between Rs 705 to Rs 741 per share.
• Lot size: Investors can apply for 20 shares and its multiples in a lot.
• Minimum investment: Retail investors have the option to subscribe to at least one lot, with an application amount of Rs 14,820.
• The IPO offer is divided into three categories: Half of the offer is reserved for qualified institutional buyers (QIBs), 15% is allocated to high-net-worth individuals (HNIs), and the remaining 35% is reserved for retail investors. The offer, amounting to 20% of the post-offer paid-up equity capital, includes a reservation of up to 10,000 equity shares for the company’s employees.
• Basis of Allotment: Concord biotech will finalise the allotment of shares to investors on August 11 and the unsuccessful investors will get refund on August 14.
• Listing date: The shares of the company will list on BSE and NSE on August 18.

Kotak Mahindra Capital Company, Citigroup Global Markets India, and Jefferies India have been appointed as the merchant bankers for the IPO, and Link Intime India will serve as the registrar of the offer.