Investors will have an opportunity to invest in Concord Biotech’s initial public offering (IPO) starting from August 4, with the subscription period lasting until August 8.
This IPO has garnered attention due to its association with veteran investor Rekha Jhunjhunwala, whose portfolio includes this promising pharmaceutical company.
Before the public offering, anchor investors will have an early chance to participate on August 3. Notably, the IPO will solely consist of an offer for sale, and no fresh shares will be issued.
Offer for Sale IPO: No Fresh Shares to Be Issued in Concord Biotech IPO
Concord Biotech’s IPO will be an exclusive offer for sale, with 2.09 crore shares being sold by Helix Investors.
The latter is a private equity fund, Quadria Capital Fund LP, specializing in healthcare investments across Asia.
Helix Investors currently holds a 20 percent stake in Concord Biotech.
Additionally, legendary investor Rakesh Jhunjhunwala, who unfortunately passed away last year, had invested in the company back in 2004 through his asset management company, Rare Enterprises.
Concord Biotech IPO Details
The forthcoming IPO by Concord Biotech, valued at Rs 1,551 crore, will be open for subscription from August 4 to August 8.
The IPO will comprise an offer for sale (OFS) of 2.9 crore shares by Helix Investment Holdings Private Limited.
The price band for the IPO has been set at Rs 705 to Rs 741, with a lot size of 20 shares. Notably, the company is offering its employees a discount of Rs 70 per share on the issue price.
The final allotment of shares is scheduled for August 11, followed by the listing on both BSE and NSE on August 18.
About Concord Biotech
Established in 1984, Concord Biotech is a leading Biopharma company that primarily focuses on research and development.
It specializes in producing Active Pharma Ingredients (API) for various diseases related to immunity and cancer.
Apart from catering to the Indian market, Concord Biotech supplies its products to over 70 countries, including the United States, Europe, and Japan.
The company’s product portfolio has expanded significantly since its inception when it produced just one product.
Investment Caution: Experts Advise Focus on Fundamentals Over Grey Market Premium
While the grey market premium for the Concord Biotech IPO is estimated to be around 44 percent, market experts caution potential investors against solely relying on such signals for their investment decisions.
Instead, they emphasize the importance of carefully evaluating the company’s financials and fundamentals before making any investment choices.