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Shares of Concord Biotech will be listed at the bourses today. The company has fixed the IPO price at ₹741 at the upper end of the price band ₹705-741. The company had raised ₹1,550.59 crore through the initial public offering
Concord Biotech was subscribed nearly 25 times.
The public issue with a face value of ₹1 per equity share is entirely an offer for sale of 2.092 crore shares by Helix Investment Holdings Pte Ltd (which is backed by Quadria Capital Fund LP, an Asian private equity fund with a focus on healthcare). The offer also includes a reservation for a subscription by eligible employees. A discount of ₹70 a share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
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While NII portion was subscribed by 17 times, retail investors quota was booked by 3.8 times. Employee portion saw a strong response by subscribing 24.48 times while QIB portion by 67.67 times.
Concord Biotech Limited, headquartered in Ahmedabad, is a biotechnology company and is one of the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on volume in 2022.
The company has garnered ₹464.95 crore from anchor investors ahead of its initial public offering. The company informed the bourses that it allocated 62,74,695 shares at ₹741 per share to anchor investors.
Foreign Investors and Domestic Institutions who participated in the anchor were the government of Singapore, Abu Dhabi Investment Authority, Government Pension Fund Global, Polar Capital Funds, HSBC Mutual Fund, WF Asian Reconnaissance Fund, Amundi Funds, The Prudential Assurance Company and Pinebridge Global Funds, Nippon Life, UTI Mutual Fund, DSP Mutual Fund, Franklin Mutual Fund, SBI Life Insurance, Motilal Oswal Mutual Fund, Edelweiss Trusteeship, Invesco India, Bandhan Mutual Fund, Aditya Birla Sun Life, Max Life Insurance and Tata AIA Life Insurance.
Rekha Jhunjhunwala-owned RARE Enterprises holds 24.09 per cent stake in Concord Biotech
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Jefferies India Private Limited are the book running lead managers and Link Intime India Private Limited is the registrar for the issue.
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