Rekha Jhunjhunwala-backed Concord Biotech opens IPO subscription; check details inside

4 Aug 2023 , 11:31 AM

The initial public offer (IPO) of Concord Biotech has open for subscription on August 4 and will conclude on August 8. The company is raising Rs 1551 crore from this book building offer and has fixed IPO price band at Rs 705-741 per share. Click here to subscribe the IPO.

On day 1 by 11.30 AM, the issue has been subscribed 0.14 times. The retail portion of the IPO has been subscribed 0.21 times, NII received bids for 0.16 times while employee portion has been fully subscribed in the first hour of opening with 2.27 times subscription. QIP portion has received bids for 560 equity shares against 41,83,130 shares available for subscription.

As the company’s initial public offering (IPO) bidding commenced on August 4, investor enthusiasm has been fueled by the participation of renowned entities like Helix Investment Holdings (managed by Quadria Capital Fund LP, a healthcare-focused private equity fund) and Ontario Fund.

The company benefits from the support of RARE Trusts, the investment firm associated with the late Rakesh Jhunjhunwala, a prominent figure in the financial world.

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