Concord Biotech, a company that makes medicines, is going to have its IPO (Initial Public Offering) next week. The IPO will start on August 4 and continue until August 8. This means investors can buy shares of the company during this time.
The special thing about this IPO is that all the shares being sold belong to existing investors who want to sell them. One of these investors is Rakesh Jhunjhunwala’s firm called Rare Enterprises, and they have also invested in Concord Biotech.
So, if you’re interested in investing in this company and have a chance to earn money, keep an eye out for the IPO starting on August 4!
Exciting news for people interested in investing! Concord Biotech, a biotechnology company, is going public with its Initial Public Offer (IPO) on August 4. This means they are giving a chance to the public to buy shares in their company for the first time. It’s the second IPO happening after SBFC Finance’s IPO last week.
In this IPO, Concord Biotech will offer a total of 2.09 crore equity shares for sale. These shares belong to Helix Investment Holdings, which will sell its entire stake in the company and leave. This is known as a complete offer-for-sale (OFS).
Before the IPO opens to the public, there will be a special session on August 3 for anchor investors. These investors get a chance to invest in the company before everyone else. Additionally, 10,000 shares are reserved in the IPO for the employees of Concord Biotech.
It’s worth mentioning that Concord Biotech is based in Ahmedabad and has caught the attention of well-known investor Rakesh Jhunjhunwala’s firm Rare Enterprises, which has also invested in the company.
If you’re interested in participating in the IPO, you can bid for shares until August 8. This means you have until that date to show how many shares you want to buy and at what price. IPOs of many companies were launched last week, and some investors made big profits from them. So, this IPO could be a good opportunity for you to invest in a promising company.
The company wants to be worth one billion dollars, and they plan to do this through an IPO. Concorde Biotech can raise a large amount of money, around Rs 1500 to 1600 crore, from the public by selling shares in the IPO. They started the process for the IPO in August 2022, and now they have received approval from SEBI to go ahead with it.
Rakesh Jhunjhunwala owns 24 percent of Rare Enterprises, which is involved in the company.
It’s important to understand that Concorde Biotech won’t receive any money from this IPO. Instead, the money from the sale of shares will go to the current shareholders who are offering their shares for sale (known as OFS).
The company will allot shares to investors on August 11, and successful investors will see the shares credited to their demat accounts on August 17. These shares will start trading on the stock exchanges from August 18.