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Showing posts with the label 2023

Ahmedabad-based Concord Biotech Limited, is country-based biotechnology company and is one of the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on volume in 2022 has fixed the price band at ₹705 to ₹741 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Friday, 4th August, 2023, for subscription and closes on Tuesday, 8th August, 2023. Investors can bid for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter.The Public Issue of face value of ₹1 per Equity Share is entirely an Offer for Sale (OFS) up to 20.92 million shares by Helix Investment Holdings Pte. Limited. The offer also includes a reservation for a subscription by eligible employees.The Company through its IPO will fetch Rs 1475.26 crore - Rs 1550.59 crore at the lower and upper end of the price band.Concord Biotech is a global supplier of bio-pharmaceutical APIs and formulations, serving more than 70 countries, including regulated markets like the United States, Europe, Japan, and India. According to the Frost & Sullivan Report, the company holds an impressive market share of over 20% by volume in 2022 for fermentation-based API products, including mupirocin, sirolimus, tacrolimus, mycophenolate sodium, and cyclosporine. Its substantial success can be attributed to its total installed fermentation capacity of 1,250 m3 as of March 31, 2023. Furthermore, Concord Biotech expanded its reach by venturing into the formulation business in India and emerging markets such as Nepal, Mexico, Indonesia, Thailand, Ecuador, Kenya, Singapore, and Paraguay. The company specializes in manufacturing bio-pharmaceutical APIs through fermentation and semi-synthetic processes, with a focus on therapeutic areas such as immunosuppressants, oncology, and anti-infectives. Additionally, they provide formulations for critical care in areas like immunosuppressants, nephrology drugs, and anti-infective drugs.Concord Biotech's outstanding achievements are evident from its diverse portfolio comprising 23 API products. The company has made significant strides in regulatory filings, having submitted 128 Drug Master Files ("DMFs") across various countries, with substantial filings in the United States, Europe, and Japan as of June 30, 2023. Financially, the company’s revenue from operations increasing by 19.67% to ₹853.17 crore in the Financial Year 2023 from ₹712.93 crore in the previous year. This growth is primarily attributed to increased sales volume to existing and new customers, as well as certain product price adjustments. Additionally, Concord Biotech's profit after tax witnessed a remarkable surge of 37.24%, reaching ₹240.08 crore in the Financial Year 2023 compared to ₹174.93 crore in the Financial Year 2022.

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Mumbai, July 31, 2023: SBFC Finance Limited (”Company”) is a systemically important, non-deposit taking non-banking finance company (“NBFC-ND-SI”) offering Secured MSME Loans and Loans against Gold, with a majority of its borrowers being entrepreneurs, small business owners, self-employed individuals, salaried and working class individuals has fixed the price band at ₹ 54 to ₹ 57 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Thursday, August 3, 2023, for subscription and closes on Monday, August 7, 2023. Investors can bid for a minimum of 260 Equity Shares and in multiples of 260 Equity Shares thereafter.The Public Issue of face value of ₹10 per Equity Share comprises of fresh issuance of equity shares worth Rs 600 crore and an Offer for Sale of Rs 425 crore.SBFC Finance is an NBFC in India that concentrates on supporting Micro, Small, and Medium Enterprises (“MSMEs”). According to a CRISIL Report, among MSME-focused NBFCs in India, the company has achieved one of the highest growth in its assets under management (“AUM”), with a Compound Annual Growth Rate ("CAGR”) of 44% during the period from Fiscal 2019 to Fiscal 2023. Additionally, it has experienced robust disbursement growth, with a CAGR of 40% between Fiscal 2021 and Fiscal 2023. As of March 31, 2023, the average ticket size for its Secured MSME Loans stood at ₹0.99 million and for its Loans Against Gold stood at ₹0.09 million, based on disbursed amounts. The Company's total AUM as of March 31, 2023, amounted to ₹4,942.82 crore, and it had provided loans to 102,722 customers as of such date.The Company primarily caters to customers in tier II and tier III cities, thereby fostering entrepreneurship in these regions. It focuses on serving customers who have a strong credit history but may lack formal proof of income documents. By focusing on this niche, the Company aims to address the funding needs of underserved individuals and businesses. As of March 31, 2023, the Company boasts an expansive footprint in 120 cities across 16 Indian states and two union territories, operating through a network of 152 branches. This widespread presence enables the Company to reach a diverse customer base and provide financial assistance to those in need throughout the country.ICICI Securities Limited, Axis Capital Limited, and Kotak Mahindra Capital Company Limited are the book running lead managers to the Offer and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.

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Price Band of ₹54 – ₹57 per equity share bearing face value of ₹10 each (“Equity Shares”) Bid/Offer Opening Date – Thursday, August 3, 2023 and Bid/Offer Closing Date – Monday, August 7, 2023. Minimum Bid Lot is 260 Equity Shares and in multiples of 260 Equity Shares thereafter. The Floor Price is 5.4 times the face value of the Equity Share and the Cap Price is 5.7 times the face value of the Equity Share.
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