Concord Biotech to finalise IPO share allotment today: Here's how to check status online

Concord Biotech, a biotechnology company supported by the RARE Trusts of the late billionaire Rakesh Jhunjhunwala, will finish the share allotment on August 11.

Instead of making a trip to the brokerage business, issue participants can quickly and conveniently check their share allotment status on their mobile devices via the BSE website or the portal of the IPO registrar.

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

On IPO registrar's portal:

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

According to the IPO timetable, after the basis of allotment of shares is finalised on August 11, the equity shares will be transferred to the demat accounts of successful investors by August 17. By the 14th of August, money owed to unsuccessful investors will have been returned to their accounts.

Equity shares will be listed on the BSE and NSE on August 18, which has been a long-awaited event.

In the grey market, where IPO shares can be purchased and sold anonymously until listing, analysts stated that Concord Biotech shares were available at a 20 percent premium in the higher price band.

The grey market premium is used by IPO participants as a benchmark to estimate a company's potential listing price.

Investors showed strong demand for shares in an India-based biopharma business on August 4-8, subscribing 24.87 times to the public issuance of Rs 1,550 crores. Qualified institutional buyers were quite active in the bidding process, purchasing 67.67 times the quota allotment. High-net-worth persons' allotment was oversubscribed by 16.99 times, the retail allotment by 3.78 times, and the employee allotment by 24.48 times.

The range of the offer price per share was Rs 705-741.

Helix Investment Holdings Pte Ltd, a healthcare-focused private equity fund, owned 20% of the company and made the lone offer. With the sale of its full stake in the OFS, Helix is leaving the company. As a result, the offer generates no revenue for the organisation.

Concord Biotech is one of the major global researchers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology, and RARE Trusts, owned by the late Rakesh Jhunjhunwala, owns 24.09 percent of the company.

Also Read : TVS Supply Chain Solutions IPO sees 89% booking on 2nd day of bidding