Private Equity

Liquidity Events

Rakesh Jhunjunwala, Qaudria Capital may dilute stake in Concord Biotech's IPO

Mint  

Rakesh Jhunjunwala, healthcare-focused private equity firm Quadria Capital, and other existing shareholders of Ahmedabad-based Concord Biotech Ltd are likely to dilute part of their stakes in the company, as the active pharmaceutical ingredients (API) maker prepares for an initial public offering (IPO). Kotak Mahindra Capital, Citi, and Jefferies are working on the deal. The company promoted by Sudhi Vaid manufactures fermentation and semi-synthetic biopharmaceutical APIs with immunosuppressants as its key therapeutic segment. The company is targeting an IPO of INR 2,000- 2,500 crore and plans to list within this calendar year.