This week, two stocks and five public issues will both debut on D-Street.


One of the businesses going public is Concord Biotech, which is supported by the late renowned investor Rakesh Jhunjhunwala’s company, RARE Enterprises. The Concord issue’s subscription window opens on August 4.

Five initial public offerings (IPOs), three of which are from small and medium-sized firms (SMEs), are opening for subscription this week, and two companies are making their market debuts. This bodes well for another busy week on the primary market.

The first mainboard offering of the week will be from non-banking finance company SBFC Finance, which hopes to raise Rs 1,025 crore. Bidding will begin on August 3.

The IPO consists of a new share issue for 600 crore rupees and a promoters’ offer to sell shares for 425 crore rupees.

The offer’s price range, which will end on August 7, has been set at Rs. 54–57 per share. On August 2, the anchor book will be open for a single day.

According to the company, the proceeds from the new issue will be utilised to increase the capital base in order to satisfy requirements brought on by the expansion of the company’s operations and asset base.

Concord Biotech’s IPO will come after that of SBFC Finance, a biopharma firm. Concord Biotech’s public offering, supported by the late ace investor Rakesh Jhunjhunwala’s company RARE Enterprises, will begin taking subscriptions on August 4.

The private fund managed by Quadria Capital, Helix Investment Holdings Pte Limited, is offering 2.09 crore equity shares in the IPO, or 20% of the paid-up equity. Helix has a way out thanks to the IPO.

The pharmaceutical business, which has its headquarters in Ahmedabad, hopes to value itself between $950 million and $1 billion by raising approximately Rs 1,500-1,600 crore through the offering.

By Nishtha Dhoundiyal


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