The issue, which will close on August 8, is entirely an offer-for-sale, where the existing shareholder Helix Investments Holdings will sell up to 20.92 million equity shares, the company said.
Half of the issue is reserved for institutional investors, while 35% is for retail investors.
Investors can bid for at least 20 shares in multiples of 20 thereafter.
The company has reported revenue from operations of Rs 853.17 crore in FY23, a jump of 19.67% over the previous year. The growth is primarily due to increased sales volume to existing and new customers and certain product price adjustments. Profit after tax for the company increased by 37.24% to Rs 240.08 crore in FY23.
Three trusts of the Jhunjhunwala family - Aryaman Jhunjhunwala Discretionary Trust, Aryavir Jhunjhunwala Discretionary Trust and Nishtha Jhunjhunwala Discretionary Trust - own an 8.03% stake each in Concord Biotech.
Kotak Mahindra Capital Company, Citigroup Global Markets India, and Jefferies India are the bankers for the issue.
Monday, 31 Jul, 2023- Front Page
- Pure Politics
- ET Markets
- Smart Investing
- More
Tiger Trail at Flipkart Ends with $3.5b ProfitNew York-headquartered investment firm Tiger Global informed its limited partners (LPs) last week that it has completed its exit from Flipkart, snagging $3.5 billion in total gains over the past few years of a phased selloff, two people in the know of the matter told ET.
Healthy Balance Sheets, Cash Flows Lift Capex SpendsIndia Inc is gradually stepping up capital expenditure, buoyed by improving balance sheets and rising cash flows, an ETIG analysis shows.
Nirma Closes in on Glenmark’s API ArmThe Nirma Group is the frontrunner to acquire Glenmark Life Sciences (GLS), an 82.84% subsidiary of Glenmark Pharmaceuticals. The Ahmedabad-based detergents-to-cement conglomerate emerged as the sole bidder late last week, the deadline to submit firm offers for the business, said people with knowledge of the matter.
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Get Unlimited Access to The Economic Times 
