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Concord Biotech's Rs.1,551-Cr IPO subscribed 25 times

Economic Times  

The INR 1,551-crore initial public offering (IPO) of Ahmedabad-headquartered Concord Biotech was subscribed 25 times. The portion reserved for qualified institutional buyers (QIB) was subscribed 68 times, while the non-institutional investors' portion was subscribed 17 times. Retail investors bid for 3.78 times the shares set aside for them. The public issue of the company that manufactures active pharmaceutical ingredients (API) was priced in the range of INR 705-741 per share. The entire public issue is an offer for the sale of up to 2.09 crore shares by existing shareholders. Earlier, Concord had raised INR 464.95 crore from anchor investors by allocating 62,75 lakh shares. Kotak Mahindra Capital Company, Citigroup Global Markets India, and Jefferies India are the bankers for the issue.

From the Venture Intelligence PE-VC Deal Database: Between Dec-04 and Jan-16, Concord had raised about USD 85 M from Rare Enterprises and Quadria India. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)