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Concord Biotech IPO
The initial public offering of Concord Biotech IPO has opened today for customers, and it will remain open for bidders until August 8, 2023.
The public issue aims to raise Rs 1551 crore, and the book build issues are offer for sale( OFS). The biopharmaceutical company has fixed Concord Biotech’s price band at Rs 705 to Rs 741 per equity share.
Objectives of Concord Biotech IPO
- Achieve the benefits of listing the equity shares on the stock exchanges.
- Carry out the offer of sale of up to 20,925,652 equity shares by the selling shareholder.
Concord Biotech IPO details
| IPO Date | Aug 4, 2023 to Aug 8, 2023 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price | ₹705 to ₹741 per share |
| Lot Size | 20 Shares |
| Total Issue Size | 20,925,652 shares (aggregating up to ₹1,551.00 Cr) |
| Offer for Sale | 20,925,652 shares of ₹1 (aggregating up to ₹1,551.00 Cr) |
| Employee Discount | Rs 70 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 104,616,204 |
| Share holding post issue | 104,616,204 |
Concord Biotech IPO Tentative Timetable
| IPO Open Date | Friday, 4 August 2023 |
| IPO Close Date | Tuesday, 8 August 2023 |
| Basis of Allotment | Friday, 11 August 2023 |
| Initiation of Refunds | Monday, 14 August 2023 |
| Credit of Shares to Demat | Thursday, 17 August 2023 |
| Listing Date | Friday, 18 August 2023 |
Don't forget to check out: SBFC Finance IPO: Dates, Price Band, GMP & Financials
Concord Biotech IPO Reservation
| Anchor Investor Shares Offered | – |
| QIB Shares Offered | 4,183,130 (28.55%) |
| NII (HNI) Shares Offered | 3,137,348 (21.41%) |
| Retail Shares Offered | 7,320,479 (49.97%) |
| Employee Shares Offered | 10,000 (0.07%) |
| Total Shares Offered | 14,650,957 (100%) |
Concord Biotech IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 20 | ₹14,820 |
| Retail (Max) | 13 | 260 | ₹192,660 |
| S-HNI (Min) | 14 | 280 | ₹207,480 |
| S-HNI (Max) | 67 | 1,340 | ₹992,940 |
| B-HNI (Min) | 68 | 1,360 | ₹1,007,760 |
Concord Biotech IPO Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 1,182.55 | 1,312.80 | 1,513.98 |
| Revenue | 630.75 | 736.35 | 888.48 |
| Profit After Tax | 234.89 | 174.93 | 240.08 |
| Net Worth | 999.37 | 1,103.22 | 1,290.00 |
| Reserves and Surplus | – | – | – |
| Total Borrowing | 86.35 | 60.59 | 31.24 |
Concord Biotech IPO GMP Today
According to market observers, the shares of Concord Biotech have started to trade in the unlisted market.
The shares of Concord Biotech are available at a premium price of Rs 150 per share in the grey market today.
Concord Biotech IPO Subscription Status
By 11.33 am on day 1 of bidding, the public issue had been subscribed 0.15 times, whereas the retail portion had been subscribed 0.22 times.
Concord Biotech IPO: Company Background
Concord Biotech Limited, incorporated in 1984, is an Indian-based research and development Biotechnology company.
The company is ranked among the leading developers and manufacturers of select fermentation-based APIs across oncology and immunosuppressants in terms of market share based on 2022 volume.
Concord Biotech has a global presence, supplying its products to 70 countries, including the USA, Europe, Japan, and India.
In 2004, Rekha and Rakesh Jhunjhunwala invested in Concord Biotech. But after the demise of the big bull of the entire stock market, the 24.09% stake in the company came under the control of Rekha JhunJhunwala.
She owns shares in the biopharmaceutical company through RaRe Enterprise, a company that belonged to her after the death of her husband.
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