On Monday’s second day, the Concord Biotech initial public offering was subscribed 2.03 times.
Against the 1,15,13,609 shares that were offered, bids for the Rs 1,550.59 crore public offering totaled 2,34,03,680.
The section reserved for non-institutional investors received 5.21 times as many subscriptions as the category reserved for retail individual investors (RIIs), which received 2.25 times as many. Qualified Institutional Buyers (QIBs) had their quota 1.61 times oversubscribed.
2,09,25,652 equity shares are being offered in an initial public offering (IPO) at a price between Rs. 705-741 per share. The Ahmedabad-based company’s initial public offering (IPO) is exclusively an OFS.
On Thursday, Concord Biotech, a company backed by Rare Enterprises, reported receiving Rs 465 crore from anchor investors.
With a concentration on specialized markets including immunosuppressant, oncology, anti-fungal, and anti-bacterial active pharmaceutical ingredients (API), Concord is one of the industry’s top producers of these ingredients.
The business, which presently sells 23 API products, has three production plants in Gujarat, located at Valthera, Dholka, and Limbasi.
The offer’s managers are Kotak Mahindra Capital Company, Citigroup Global Markets India, and Jefferies India.