Concord Biotech to come out with Rs 1,550 crore IPO on August 4
Concord Biotech is coming out with an initial public offering (IPO) to raise around Rs 1,550 crore. It has fixed a price band of Rs 705-741 per share. The issue will open on August 4, 2023 and will close on August 8, 2023. The equity shares are proposed to be listed on both the bourses, BSE and NSE.
The IPO is entirely an offer-for-sale (OFS) of 2.09 crore equity shares by Helix Investment Holdings, which is backed by private equity firm Quadria Capital. Kotak Mahindra Capital Company, Citigroup Global Markets India, and Jefferies India are the book-running lead managers to the issue.
Concord is among the leading manufacturers of fermentation-based biopharmaceutical APIs, focused on niche segments, such as immunosuppressant, oncology, anti-fungal and anti-bacterial. It has three manufacturing facilities at Valthera, Dholka, and Limbasi, in Gujarat.
