Shares of Concord Biotech listed at a premium of 21% over the IPO price of Rs 741 on the exchanges in Friday’s trade. On both NSE and BSE, the share debuted at Rs 900 apiece, a premium of Rs 159 as against the issue price.
Ahead of the listing, the company’s shares commanded a premium of Rs 120 in the unlisted market.
Concord Biotech is a biotechnology company and a leading maker of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on volume in 2022. The company is backed by Rakesh Jhunjhunwala’s Rare Enterprises and another leading investment firm Quadria Capital Fund.
It is present across the fermentation value chain, and supplies to over 70 countries including regulated markets, such as US, Europe and Japan, and India. As of FY23, the company had 23 APIs (89% of revenue), which it aims to increase further especially in anti-infective/oncology segments.
It is present across the fermentation value chain, and supplies to over 70 countries including regulated markets, such as US, Europe and Japan, and India. As of FY23, the company had 23 APIs (89% of revenue), which it aims to increase further especially in anti-infective/oncology segments.
