Fermentation-based active pharmaceutical ingredients (APIs) maker Concord Biotech Ltd has received SEBI’s nod for its initial public offering (IPO). Visakhapatnam-based jewellery player Vaibhav Gems N’ Jewellers Ltd, too, received SEBI clearance for its IPO.

Backed by Rakesh Jhunjhunwala’s Rare Enterprises and Quadria Capital, Concord’s IPO is a complete offer for sale (OFS) aggregating to 20,925,652 equity shares with face value of ₹1 per equity share being put on offer by Helix Investment Holdings Pte. Ltd.

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

The Ahmedabad-based player recorded revenues from operations at ₹712.93 crore for the FY22, up 15.56 per cent from ₹616.94 crore in the previous year. Profit for the year stood at ₹174.93 crore, the company informed.

Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, and Jefferies India Private Ltd are the book-running lead managers and Link Intime India Private Ltd is the registrar to the offer. The equity shares are proposed to be listed on the BSE and NSE.

Vaibhav Gems’ ₹210-crore IPO

Vaibhav Gems N’ Jewellers Ltd aims to raise upto ₹210 crore through a fresh issue of equity shares and an OFS of 43 lakh equity shares by the promoter entity HUF Grandhi Bharata Mallika Ratna Kumari.

The company’s DRHP had informed that the proceeds of the fresh issue will be utilised to finance the establishment of eight new showrooms and the purchase of inventory, besides general corporate purposes. The company offers a range of jewellery products in gold, diamonds, precious gems, platinum and silver articles.

The shares of the company will be listed on the BSE and NSE.

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