Concord Biotech IPO Listing Date Today; 21% Premium Received

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Concord Biotech IPO Listing

The stock market witnessed a remarkable debut as Concord Biotech, a research-focused biopharma firm, made its initial public offering (IPO) listing on Friday, 18th August 2023.

The IPO generated significant buzz in the investor community, and its listing saw a premium of 21.46% on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

This article delves into Concord Biotech IPO journey, subscription numbers, listing performance, and expert opinions.

Strong Investor Appetite and Subscription Numbers

The Concord Biotech IPO captured the attention of investors right from the start.

With a public issue worth ₹1,551 crore, the company embarked on its IPO journey from August 4 to August 8, 2023.

The IPO price band ranged from ₹705 to ₹741 per equity share. The IPO garnered robust demand from investors, as evidenced by its impressive subscription ratio of 24.87 times by the end of the subscription period.

Concord Biotech IPO Details

IPO DateAug 4, 2023 to Aug 8, 2023
Listing DateFriday, 18 August 2023
Face Value₹1 per share
Price₹705 to ₹741 per share
Lot Size20 Shares
Total Issue Size20,925,652 shares
(aggregating up to ₹1,551.00 Cr)
Offer for Sale20,925,652 shares of ₹1
(aggregating up to ₹1,551.00 Cr)
Employee DiscountRs 70 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue104,616,204
Share holding post issue104,616,204

Premium Listing and Market Debut

Concord Biotech’s market debut was nothing short of impressive.

The Concord Biotech IPO listing at ₹900.05 apiece on both the BSE and NSE, reflecting a substantial premium of 21.46% over the issue price of ₹741 per share.

This strong premium indicated the market’s favorable reception of the company’s potential and prospects.

  • Listing Performance:
    • Concord Biotech IPO Listing Price: ₹900.05 per share
    • Concord Biotech IPO Listing Premium: 21.46% over issue price

Expert Insights and Analysis

The Concord Biotech listing drew the attention of experts and analysts, who provided valuable insights into the company’s performance and potential.

Anubhuti Mishra, Equity Research Analyst at Swastika Investment Ltd, commented on the listing, stating, “Concord Biotech Limited made its debut on the stock markets by going public at ₹900 per share, 21.46% higher than its IPO price of ₹741.”

She noted that the listing aligned with expectations, attributing the positive reception to the company’s strong fundamentals and impressive subscription levels.

She advised IPO participants to consider booking profits post-listing.

Brokerage Backing and Investor Recommendations

Concord Biotech’s IPO garnered support from prominent brokerages, including Motilal Oswal, SBI Securities, Ventura Securities, LKP Research, Reliance Securities, Choice Broking, Hensex Securities, Hem Securities, and SMC Capital.

These brokerages expressed confidence in the company’s growth prospects and strategic positioning.

Choice Broking emphasized the appealing price-to-earnings (P/E) ratio of 32.3x against Concord Biotech’s FY23 earnings, positioning it favorably compared to its industry counterparts.

The report highlighted the company’s global presence, diverse product portfolio, and robust in-house research and development capabilities.

This strategic positioning underlined its growth potential, especially in the fermentation-based APIs market.

Reliance Securities also offered a positive outlook on the IPO, giving it a “subscribe” rating. The brokerage spotlighted Concord Biotech’s global reach, varied product offerings, internal R&D strength, and experienced leadership.

Rekha Jhunjhunwala’s Influence

An intriguing aspect of Concord Biotech’s ownership structure was the significant stake held by Rekha Jhunjhunwala, surpassing 24 percent.

This ownership stake was acquired through RaRe Enterprise, an entity linked to Rekha Jhunjhunwala following her husband Rakesh Jhunjhunwala‘s passing.

This notable ownership stake added a layer of interest and confidence in the company’s prospects.

Wrap Up on Concord Biotech IPO Listing

Strong investor interest, robust subscription numbers, and an impressive premium on the issue price characterized Concord Biotech IPO listing.

The company’s debut on the stock exchanges was well-received by experts and analysts, who pointed to its strong fundamentals and growth potential.

Backed by prominent brokerages and boasting a significant ownership stake held by Rekha Jhunjhunwala, Concord Biotech’s successful listing marks a significant milestone in its journey as a research-focused biopharma firm.

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