Concord Biotech, a biotechnology firm backed by late investor Rakesh Jhunjhunwala's RARE Trusts, will finalise the share allotment on August 11, which is eagerly awaited by investors who have participated in the offer.
The issue participants can easily check their share allotment status, through their mobile, either on the BSE website or the portal of the IPO registrar by following a few easy steps, instead of visiting the brokerage firm.
On BSE website:
a) Select issue type 'Equity' and issue name ' Concord Biotech Limited'
b) Enter either 'Application number' or 'PAN number'
c) Check box (I am not a robot) and click on 'Search' button
a) Select IPO name 'Concord Biotech Limited - IPO'
b) Select and accordingly enter either 'PAN number', or 'Application number' or DP Client ID'
c) Finally click on 'Search' button
After the finalisation of the basis of allotment of shares on August 11, the equity shares will be transferred to demat accounts of successful investors by August 17, as per the IPO schedule. And the refunds will be credited to the bank accounts of unsuccessful investors by August 14.
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Finally, the much-awaited listing of equity shares will take place on the BSE and NSE on August 18.
Concord Biotech shares were available at a 20 percent premium in the grey market at upper price band, which is an unofficial market wherein the IPO shares can be bought and sold till listing, analysts said on anonymity.
The IPO participants generally consider the grey market premium to know the possible listing price of any company.
The Rs 1,550-crore public issue of India-based biopharma company has received good response from investors, subscribing 24.87 times during August 4-8. Qualified institutional buyers were aggressive in terms of bidding, buying 67.67 times the allotted quota. The portion set aside for high networth individuals was subscribed 16.99 times, that of retail 3.78 times and employees 24.48 times.
The price band for the offer was Rs 705-741 per share.
The offer comprised only an offer-for-sale by Helix Investment Holdings Pte Ltd, a healthcare focused private equity fund owning 20 percent stake in the company. Helix is exiting the company by selling its entire shareholding in the OFS. Hence the company will not get any money from the offer.
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Late Rakesh Jhunjhunwala-owned RARE Trusts owns 24.09 percent stake in Concord Biotech, one of the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology.
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