Concord Biotech files DRHP for IPO

The issue with a face value of Re 1 per equity share is a complete Offer For Sale (OFS) aggregating to 20,925,652 equity shares by Helix Investment Holdings

Ahmedabad-based Concord Biotech has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an Initial Public Offering (IPO), according to a statement released by the company.

The issue with a face value of Re 1 per equity share is a complete Offer For Sale (OFS) aggregating to 20,925,652 equity shares by Helix Investment Holdings. The offer also includes a reservation for a subscription by eligible employees, said the statement.

It also noted that the offer is being made through the book building process, wherein not more than 50 per cent of the offer shall be available for allocation to qualified institutional buyers, not less than 15 per cent of the offer shall be available for allocation to non-institutional bidders and not less than 35 per cent of the offer shall be available for allocation to retail individual bidders.

As per the F&S report stated in its DRHP, Concord Biotech commands a market share of over 20 per cent by volume in 2021 across identified fermentation-based API products including dactinomycin, sirolimus, tacrolimus, mycophenolate sodium and cyclosporine. It supplies to over 70 countries including regulated markets such as the US, Europe, Japan and India, it added.

Concord BiotechDRHPInitial Public OfferingIPO
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