Rakesh Jhunjhunwala’s Rare Enterprises-backed Concord Biotech’s initial public offering (IPO) has opened for subscription on Friday, and will remain open for bidders till August 8th, i.e., Tuesday.
Concord Biotech’s on Thursday said it collected Rs 465 crore from anchor investors ahead of its IPO.
Here’s everything you need to know about Concord Biotech IPO before bidding:
Concord Biotech IPO dates:
ADVERTISEMENT
Concord Biotech’s initial offering has opened for public subscription today, i.e, August 4, and will close on Tuesday, i.e., August 8.
Price range:
The bio-pharma company has set a price range at Rs 705-741 per share.
Concord Biotech IPO size:
The Rare Enterprises-backed company is looking to raise Rs 1,551 crore through its public issue of more than 2.09 crore equity shares or 20 per cent of paid-up equity, at the upper price band, according to a circular uploaded on the BSE website.
Concord Biotech’s IPO is a complete Offer For Sale (OFS) by Helix Investment Holdings Pte Limited. The offer also includes a reservation for subscriptions by eligible employees.
ADVERTISEMENT
Concord Biotech collected Rs 465 crore from anchor investors, which included the government of Singapore, Abu Dhabi Investment Authority, Amundi Funds, Pinebridge Global Funds, Polar Capital Funds, Bajaj Allianz Life Insurance Company, Tata AIF Life Insurance Company, Max Life Insurance Co Ltd and Aditya Birla Sun Life Insurance Company.
Additionally, fund houses, including Nippon India Mutual Fund (MF), UTI MF, Edelweiss MF, Bandhan MF, DSP MF, and Motilal Oswal Mutual, have also been allocated shares in the anchor round.