Concord Biotech IPO: Check Issuance Details, Latest GMP, Price Range and Other Important Things You Should Know

Concord Biotech Initial Public Offering (IPO) of Concord Biotech Ltd is scheduled to open for public subscription on August 4th. Founded in 1984, Concord is an India-based biopharmaceutical company.

Concord Biotech Initial Public Offering (IPO) of Concord Biotech Ltd is scheduled to open for public subscription on August 4th. Founded in 1984, Concord is an India-based biopharmaceutical company.

Concord is one of the world’s leading developers and manufacturers of select fermentation-based APIs for immunosuppressants and oncology by market share based on volume in 2022.

Concord is one of the world’s leading developers and manufacturers of select fermentation-based APIs for immunosuppressants and oncology by market share based on volume in 2022.

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Concord Biotech’s IPO will take place this week. Below are some of the most important things to know about Concord Biotech’s IPO.

Concord Biotech IPO: Important things to know

Concord Biotech IPO Dates: Concord Biotech’s IPO begins August 4th and ends August 8th. Allocation completion is expected to occur on August 11, while reimbursement will be initiated on August 14. The shares will be credited to Demat accounts of eligible investors on August 17.

IPO price range: The company has fixed the price range for the public issue at ₹705 to ₹741 per share.

IPO size: The company is planning an increase somewhere in between ₹1,498-1,551 crore from the IPO. At the higher end of the price range is Concord Biotech’s IPO size ₹1,551 crores. The IPO values ​​the company at around ₹7,752 crores.

Output details: Concord Biotech’s IPO, sponsored by Rekha Jhunjhunwala, consists of an Open Offer (OFS) of 2,09,25,652 shares by Helix Investment Holdings Pte Ltd.

lot size: The lot size of Concord Biotech’s IPO is 20 shares and the minimum investment required by investors is ₹14,820.

IPO Lead Manager: The underwriters for the offering are Kotak Mahindra Capital, Citigroup Global and Jefferies India

IPO Register: Link Intime India Pvt Ltd is the registrar for the Concord Biotech IPO.

Main shareholders: Helix Investment Holdings Pte Ltd holds a 20% stake in the company. Helix Investment Holdings is backed by Quadria Capital Fund LP, an Asian healthcare-focused private equity fund.

Rakesh Jhunjhunwala owned 24.09% of the company through his asset management company RARE Enterprises (through RARE Trusts), now called Rekha Jhunjhunwala.

Concord Biotech IPO Reservation: Concord Biotech has reserved 50% of shares in the public offering for qualified institutional buyers (QIB), 15% for non-institutional investors (NII) and 35% of the offering for retail investors. Up to 10,000 common shares are reserved for Company employees, who are offered shares at a discount of ₹70 each.

Stock exchange listing of Concord: Concord Biotech shares are expected to list on the BSE and NSE on August 18th.

Concord Biotech IPO GMP today

Concord Biotech IPO GMP today or gray market premium today ₹260 per share. This suggests that Concord Biotech’s stock price was trading 20% ​​higher ₹260 in the gray market on Tuesday, according to data available on IPOWatch. The GMP fell today ₹325 on Monday.

Considering the high end of the IPO price range and the current gray market premium, the estimated listing price of Concord Biotech shares is ₹1,001 each, which is 35% above the IPO price.

Concord Biotech Financials

Concord Biotech’s net income at the end of March 31, 2023 was ₹240.08 crore, up from ₹174.93 year-on-year.

The company’s operating revenue was at March 2023 ₹853.17 crore compared to ₹712.93 crore yoy.

About Concord Biotech

Concord is one of the few companies worldwide that has successfully and sustainably established and expanded production capacities for fermentative APIs.

The Company had over 20% market share by volume in identified fermentation-based API products including mupirocin, sirolimus, tacrolimus, mycophenolate sodium and cyclosporine as of 2022.

As of June 30, 2023, Concord had a portfolio of 57 brands and 77 products manufactured by them, including 23 APIs and 53 formulations. In addition, as of March 31, 2023, they had 80 out-licensed formulations which they marketed under their brands in India.

Disclaimer: The views and recommendations expressed above are provided by individual analysts or brokerage firms and not by Mint. We recommend investors to consult certified experts before making an investment decision.

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