Concord Biotech IPO Day 3: Issue subscribed over 24 times on last day; QIB portion booked 68x
IPO Subscription Status: The initial public offering (IPO) of Concord Biotech Limited has been subscribed 24.79 times in total so far on August 8, the third and final day of the bidding process. The public issue of late ace investor Rakesh Jhunjhunwala’s RARE Trusts-backed biotechnology company received bids for 36.31 crore equity shares as against 1.46 crore shares on the offer. Concord Biotech IPO’s retail category was booked 3.64 times, while the Non-Institutional Investors (NII) category was subscribed 16.95 times.
The quota for Qualified Institutional Investors was booked 67.67 times, till 4:00 pm on Tuesday. Employees bid 23.64 times the allotted quota. The company has reserved 10,000 equity shares for its employees in the IPO and is offering them shares at a discount of ₹70 per share to the final offer price.
Also Read: Concord Biotech IPO closes today: Latest GMP, subscription status, review, other details. Apply or not? Concord Biotech IPO opened for subscription on August 4 and will remain open for bidders till August 8. The price band for the IPO has been at ₹705 to ₹741 per equity share.
The company aims to raise ₹1,551 crore for the public issue which is completely an offer for sale (OFS) of 2.09 crore shares by Helix Investment Holdings, a part of Quadria Capital Fund LP. Also Read: TVS Supply Chain IPO opens this week. GMP, price, other details you should know The company has already raised ₹465 crore by allocating 6,274,695 equity shares to the anchor investors ahead of the IPO opening.
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