IPO
API-maker Concord Biotech garners Rs.465-Cr from 41 anchor investors
Ahmedabad-based Concord Biotech has collected INR 464.95 crore from anchor investors ahead of its Initial Public Offering (IPO). The company has allocated 62.74 lakh equity shares to 41 funds at INR 741 apiece, which is also the upper end of the price band. The government of Singapore, Abu Dhabi Investment Authority (ADIA), Amundi Funds, Pinebridge Global Funds, Polar Capital Funds, Bajaj Allianz Life Insurance Company, Tata AIF Life Insurance Company, Max Life Insurance Co Ltd, and Aditya Birla Sun Life Insurance Company are among the anchor investors. In addition, Nippon India Mutual Fund (MF), UTI MF, Edelweiss MF, Bandhan MF, DSP MF, and Motilal Oswal Mutual, have been allocated shares in the anchor round. The IPO of the company is entirely an Offer For Sale (OFS) of 2.09 crore equity shares by Helix Investment Holdings Pte Ltd, a part of private equity firm Quadria Capital. The issue, with a price band at INR 705-741 per share, will be open for public subscription till August 8. Concord is a manufacturer of fermentation-based biopharmaceutical APIs, focused on niche segments, such as immunosuppressant, oncology, anti-fungal and anti-bacterial.
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