Rare Enterprises-backed Concord Biotech files IPO papers with Sebi

Rare Enterprises-backed Concord Biotech has filed draft papers with capital markets regulator Sebi to mop up funds through an initial public offering (IPO).
 

The IPO is entirely an offer for sale of (OFS) of 2,09,25,652 equity shares by Helix Investment Holdings Pte Limited, which is backed by private equity firm Quadria Capital, according to the draft red herring prospectus (DRHP).
 

The offer also includes a reservation for subscriptions by eligible employees.
 

Concord is among the leading manufacturers of fermentation-based biopharmaceutical APIs, focused on niche segments such as immunosuppressant, oncology, anti-fungal and anti-bacterial. It has three manufacturing facilities -- Valthera, Dholka,