Concord Biotech is a homegrown research and development driven biopharma company, ranked among the leading global developers and manufacturers of select fermentation-based APIs.
Concord Biotech is a homegrown research and development driven biopharma company, ranked among the leading global developers and manufacturers of select fermentation-based APIs.Shares of Concord Biotech made a strong debut at Dalal Street on Friday as the API manufacturer was 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). Similarly, the stock made its debut at the same premium and same price on BSE. A day ahead of its listing, Concord Biotech was commanding a premium of Rs 120-125 per share, about 17 per cent higher compared to its issue price. Despite a mild improvement in the current week, the grey market premium stays corrected sharply from its peak around Rs 185-190 per share in the last week. The Rs 1,551 crore primary offering of Rakesh Jhunjhunwala-backed Concord Biotech had received a strong response from the investors during the three-day bidding process, which opened between August 4-8 The IPO of Concord Biotech was sold in the range of Rs 705-741 apiece, and was overall subscribed 24.87 times. The portion for qualified institutional bidders was booked 67.67 times, while the non-institutional investors' category was subscribed 16.99 times. The quota reserved for retail investors was subscribed 3.78 times, while the employee portion fetched 24.48 times bids.
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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. Concord Biotech has a global presence, and supplies its products to more than 70 countries including the USA, India, Europe, and Japan. The company manufactures active pharmaceutical ingredients (API) through fermentation & semi-synthetic process and finished formulations. It started with a single product and has grown to become a wide-spectrum solution provider.
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