Concord Biotech stock in focus today on bulk deal worth Rs 81 crore
Concord Biotech shares bulk deal: The transaction was done at Rs 900.05 per share. The total value was Rs 80.91 crore with 8,99,037 shares changing hands in the deal.
- Aug 21, 2023,
- Updated Aug 21, 2023 8:43 AM IST
Shares of recently listed Concord Biotech Ltd are in focus today after Norges Bank bought nearly nine lakh shares or 0.9% stake in the firm in bulk deals. Norges Bank is the central bank of Norway. The deal was carried out on account of the government pension fund global. The transaction was done at Rs 900.05 per share. The total value was Rs 80.91 crore with 8,99,037 shares changing hands in the deal.
On Friday (August 18), Concord Biotech made a strong debut on Dalal Street. The shares of API manufacturer were listed at Rs 900.05, a premium of 21 per cent against the issue price of Rs 741 apiece, on the National Stock Exchange (NSE). The stock made its debut at the same premium and same price on BSE.
Later, Concord Biotech shares closed 27% or Rs 200.85 higher at Rs 941.85 on BSE. On NSE, Concord Biotech stock ended with a health gain of 27.33% or Rs 202.50 at Rs 943.50. Total 15.45 lakh shares of the firm changed hands amounting to a turnover of Rs 143.58 crore on BSE. Market cap of Concord Biotech rose to Rs 9853.28 crore.
The IPO of late investor Rakesh Jhunjhunwala-backed Concord Biotech was open from August 4 to August 8. The company raised Rs 1551 crore through the primary share sale. The price band of the IPO was Rs 705-741 apiece. It was subscribed 24.87 times on the last day.
The portion for qualified institutional bidders was subscribed 67.67 times, while the non-institutional investors' category received bids 16.99 times the reserved portion . The quota reserved for retail investors was subscribed 3.78 times, while the employee portion fetched 24.48 times bids.
Incorporated in 1984, Concord Biotech is a homegrown research and development (R&D) driven biopharma company. The company is ranked among the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology, marking its presence in more than 70 countries including India, Japan, US and Europe.
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Shares of recently listed Concord Biotech Ltd are in focus today after Norges Bank bought nearly nine lakh shares or 0.9% stake in the firm in bulk deals. Norges Bank is the central bank of Norway. The deal was carried out on account of the government pension fund global. The transaction was done at Rs 900.05 per share. The total value was Rs 80.91 crore with 8,99,037 shares changing hands in the deal.
On Friday (August 18), Concord Biotech made a strong debut on Dalal Street. The shares of API manufacturer were listed at Rs 900.05, a premium of 21 per cent against the issue price of Rs 741 apiece, on the National Stock Exchange (NSE). The stock made its debut at the same premium and same price on BSE.
Later, Concord Biotech shares closed 27% or Rs 200.85 higher at Rs 941.85 on BSE. On NSE, Concord Biotech stock ended with a health gain of 27.33% or Rs 202.50 at Rs 943.50. Total 15.45 lakh shares of the firm changed hands amounting to a turnover of Rs 143.58 crore on BSE. Market cap of Concord Biotech rose to Rs 9853.28 crore.
The IPO of late investor Rakesh Jhunjhunwala-backed Concord Biotech was open from August 4 to August 8. The company raised Rs 1551 crore through the primary share sale. The price band of the IPO was Rs 705-741 apiece. It was subscribed 24.87 times on the last day.
The portion for qualified institutional bidders was subscribed 67.67 times, while the non-institutional investors' category received bids 16.99 times the reserved portion . The quota reserved for retail investors was subscribed 3.78 times, while the employee portion fetched 24.48 times bids.
Incorporated in 1984, Concord Biotech is a homegrown research and development (R&D) driven biopharma company. The company is ranked among the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology, marking its presence in more than 70 countries including India, Japan, US and Europe.
Also read: Adani Energy Solutions shares in focus as arm looks to invest Rs 2,000 crore in transmission lines
Also read: Jio Financial Services stock listing today. JFS share exclusion date from Nifty, Sensex & more