The Day 2 subscription for the Concord Biotech IPO was 2.72 times.
On the second day of bidding, the initial public offering (IPO) of Ahmedabad-based Concord Biotech Limited was subscribed 2.72 times, making it one of the top global developers and producers of specific fermentation-based APIs across immunosuppressants and oncology in terms of market share in 2022.
According to information available on the stock markets, the issuance received bids for 3,97,88,140 shares against the 1,46,50,957 equity shares that were issued, at a price range of 705-741.
Retail Portion was subscribed with 2.26 times; Non-Institutional Investors Portion with 5.22 times. Employee Portion was subscribed to 15.68 times compared to 1.61 times for Qualified Institutional Buyer Portion.
According to information available on the stock markets, the issuance received bids for 3,97,88,140 shares against the 1,46,50,957 equity shares that were issued, at a price range of 705-741.
Retail Portion was subscribed with 2.26 times; Non-Institutional Investors Portion with 5.22 times. Employee Portion was subscribed to 15.68 times compared to 1.61 times for Qualified Institutional Buyer Portion. On Friday, August 4, 2023, subscriptions for the issue opened, and they will end on Tuesday, August 8, 2023. Employees who qualify are given a discount of Rs 70 per equity share when they participate in the employee reservation portion of the auction.
Concord Biotech Ltd has received Rs 465 crore from anchor investors the day before the issue opened. Government of Singapore, Abu Dhabi Investment Authority, Government Pension Fund Global, Polar Capital Funds, HSBC Mutual Fund, WF Asian Reconnaissance Fund, Amundi Funds, The Prudential Assurance Company and Pinebridge Global Funds, as well as Nippon Life, UTI Mutual Fund, DSP Mutual Fund, Franklin Mutual Fund, SBI Life Insurance, Motilal Oswal Mutual Fund, Edelweiss Trusteeship, Invesco India, and Banco Santander participated in the anchor.
