You can subscribe to Concord Biotech's IPO from today, know the big things about IPO before investing

Concorde Biotech's IPO, backed by noted investor Rakesh Junjhunwal's Rare Enterprises, is set to open for subscription today. This IPO is the second IPO of this week after SBFC Finance. Before investing, you should know some big things about this IPO. Know what are the price band and lot size of this IPO. Read the full news.

Aug 4, 2023 - 07:33
You can subscribe to Concord Biotech's IPO from today, know the big things about IPO before investing

After the fall in the market yesterday, this morning, the sun's rays have brought a new hope of earning for the investors. In fact, today the IPO of Concord Biotech, backed by RARE Enterprises of famous investor Rakesh Jhunjhunwala, known as the Big Bull of the stock market, is about to open.
This is the second Initial Public Offer (IPO) to open this week after SBFC Finance. Let us tell you some big things about this IPO.
Investors can subscribe to this offer from today i.e. from 4th August to 8th August. Although the company opened the offer for anchor investors yesterday i.e. on 3 August.
Concorde Biotech has fixed the price band of this IPO at Rs 705 to 741 per share.
The company plans to raise Rs 1,550.59 crore from the IPO of over 2.09 crore equity shares or 20 percent equity at the upper price band.
Company This issue comprises an offer-for-sale (OFS) solely by Helix Investment Holdings Pte Limited, led by Quadria Capital Fund LP, a healthcare-focused private equity fund in Asia. is supported.
The offer also includes a reservation of 10,000 equity shares for ESOPs, which will get these shares at a discount of Rs 70 per share.
The minimum bid that can be placed by investors is for 20 equity shares and in multiples of 20 shares thereafter.
Accordingly, retail investors can invest a minimum of Rs 14,820 for one lot and their maximum investment will be Rs 1,92,660 for 13 lots (260 shares) at the upper price band, as one can invest up to Rs 2 lakh in an IPO.
The minimum investment by high net worth individuals in the Rs 2 lakh to Rs 10 lakh category would be Rs 2,07,480 for 14 lots (280 shares) and a maximum of Rs 9,92,940 (67 lots - 1,340 shares).
The company has reserved half of the offer for qualified institutional buyers including anchor books, 15 percent for high-net-worth individuals, and the remaining 35 percent for retail investors.
Concord Biotech claims to be one of the leading global developers and manufacturers of select fermentation-based APIs in immunosuppressants and oncology in terms of market share by volume in 2022.
The company supplies products to over 70 countries including regulated markets. Identified fermentation-based API products, including mupirocin, sirolimus, tacrolimus, mycophenolate sodium, and cyclosporine, were expected to have a market share of more than 20 percent by volume in 2022.

Muskan Kumawat Journalist & Writer