Last day to subscribe Concord Biotech IPO; check live subscription details here

8 Aug 2023 , 12:13 PM

The late ace investor Rakesh Jhunjhunwala’s RARE Trusts-backed biotechnology firm, Concord Biotech Limited’s IPO is closing today and the issue has been subscribed 4.96 times so far on day 3 by 12.09 PM. Click here to subscribe the IPO.

Check the live subscription details of Concord Biotech on day 3:

Category	No. of shares offered / reserved	No. of shares bid for	No. of times of total meant for the category
Qualified Institutional Buyers (QIBs)	41,83,130	2,82,21,420	6.75
Non Institutional Investors(NIIS)	31,37,348	2,41,77,380	7.71
Retail Individual Investors (RIIs)	73,20,479	2,00,84,680	2.74
Employees	10,000	1,92,620	19.26
Total	1,46,50,957	7,26,76,100	4.96

(Source: BSE)

On the second day, there was an overwhelming response to the issue from both high net worth individuals (HNIs) and retail investors, with subscription rates of 5.22 times and 2.26 times, respectively. Employees demonstrated strong interest, bidding 15.68 times the allotted quota, while the qualified institutional buyers’ reserved portion was booked 1.61 times.

Concord Biotech, based in Ahmedabad, successfully raised a significant amount of Rs 465 crore through the anchor book at the upper price band on August 3. The anchor book saw participation from prominent global investors, including Abu Dhabi Investment Authority, Amundi Funds, HSBC Mutual Fund, WF Asian Reconnaissance Fund, SBI Life Insurance, Motilal Oswal Mutual Fund, Aditya Birla Sun Life, Government of Singapore, and Pinebridge Global Funds, as part of the total fundraising.