SEBI approves Vaibhav Gems and Concord Biotech IPOs. Do not miss these details about the company and the IPO

SEBI nod to Vaibhav Gems and Concord Biotech IPOs

Sebi approves IPO of Concord Biotech and Vaibhav Gems

More companies are joining the IPO fray to get their shares listed on the stock exchange and enter the stock market. To launch their IPOs, companies must submit a Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). Based on the submitted DRHP, SEBI approves or rejects the IPO.

Currently, two companies received the green signal from SEBI to launch their IPOs - Vaibhav Gems and Concord Biotech. Both players will complete the formalities and launch their IPOs in the coming months. Here’s what you need to know about these prospective IPOs.

Related - Investing in an IPO? Know these things first

Vaibhav Gems N Jewellers Limited

Vaibhav Gems N Jewellers Limited is a jewellery company based out of Visakhapatnam. It sells jewellery products made of gold, silver, diamond, platinum and precious gems. The company is looking to raise Rs.210 crores through the IPO. Other details of the IPO are as follows –

  • The IPO will include a fresh issue of equity shares and an Offer for Sale (OFS). Under the OFS, 43 lakh equity shares are being sold off by the company’s promoter – HUF Grandhi Bharata Mallika Ratna Kumari.
  • The funds raised from the IPO will be used for the following purposes –
  • Finance the launch of eight new jewellery showrooms
  • Inventory purchase
  • Other general corporate uses
  • Post the IPO, the company’s shares will be listed at the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Concorde Biotech Limited

Concorde Biotech Limited is a manufacturer of fermentation-oriented Active Pharmaceutical Ingredients (APIs) based out of Ahmedabad. The company boasts of financial backing by Rakesh Jhunjhunwala-owned Rare Enterprises. Quadria Capital has also invested in the company.

In the financial year 2022, Concorde Biotech Limited reported revenue from operations of Rs.72.93 crores. The revenue rose 15.56% yearly, compared to Rs.616.94 crores reported in the last financial year. The company also reported a profit of Rs.174.93 crores for 2022.

The details of the IPO are as follows –

  • The IPO is an Offer for Sale (OFS) of 20,925,652 equity shares with a face value of Re.1 each.
  • Helix Investment Holdings Private Limited is selling its stake in Concorde Biotech Limited through the OFS.
  • A part of the IPO is reserved for the eligible employees of Concorde Biotech Limited.
  • The book-running lead managers of the IPO are as follows –
  • Jefferies India Private Limited
  • Citigroup Global Markets India Private Limited
  • Kotak Mahindra Capital Company Limited
  • Link Intime India Private Limited is the IPO’s registrar.
  • Post the IPO, the shares will be listed on the BSE and the NSE.

So, know about these tentative IPOs so that, when they are launched, you can pick which one to subscribe to.

Related - IPO or stocks, find out which is better

Check out the upcoming IPOs of December 2022 in the video

More companies are joining the IPO fray to get their shares listed on the stock exchange and enter the stock market. To launch their IPOs, companies must submit a Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). Based on the submitted DRHP, SEBI approves or rejects the IPO.

Currently, two companies received the green signal from SEBI to launch their IPOs - Vaibhav Gems and Concord Biotech. Both players will complete the formalities and launch their IPOs in the coming months. Here’s what you need to know about these prospective IPOs.

Related - Investing in an IPO? Know these things first

Vaibhav Gems N Jewellers Limited

Vaibhav Gems N Jewellers Limited is a jewellery company based out of Visakhapatnam. It sells jewellery products made of gold, silver, diamond, platinum and precious gems. The company is looking to raise Rs.210 crores through the IPO. Other details of the IPO are as follows –

  • The IPO will include a fresh issue of equity shares and an Offer for Sale (OFS). Under the OFS, 43 lakh equity shares are being sold off by the company’s promoter – HUF Grandhi Bharata Mallika Ratna Kumari.
  • The funds raised from the IPO will be used for the following purposes –
  • Finance the launch of eight new jewellery showrooms
  • Inventory purchase
  • Other general corporate uses
  • Post the IPO, the company’s shares will be listed at the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Concorde Biotech Limited

Concorde Biotech Limited is a manufacturer of fermentation-oriented Active Pharmaceutical Ingredients (APIs) based out of Ahmedabad. The company boasts of financial backing by Rakesh Jhunjhunwala-owned Rare Enterprises. Quadria Capital has also invested in the company.

In the financial year 2022, Concorde Biotech Limited reported revenue from operations of Rs.72.93 crores. The revenue rose 15.56% yearly, compared to Rs.616.94 crores reported in the last financial year. The company also reported a profit of Rs.174.93 crores for 2022.

The details of the IPO are as follows –

  • The IPO is an Offer for Sale (OFS) of 20,925,652 equity shares with a face value of Re.1 each.
  • Helix Investment Holdings Private Limited is selling its stake in Concorde Biotech Limited through the OFS.
  • A part of the IPO is reserved for the eligible employees of Concorde Biotech Limited.
  • The book-running lead managers of the IPO are as follows –
  • Jefferies India Private Limited
  • Citigroup Global Markets India Private Limited
  • Kotak Mahindra Capital Company Limited
  • Link Intime India Private Limited is the IPO’s registrar.
  • Post the IPO, the shares will be listed on the BSE and the NSE.

So, know about these tentative IPOs so that, when they are launched, you can pick which one to subscribe to.

Related - IPO or stocks, find out which is better

Check out the upcoming IPOs of December 2022 in the video

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