Concord Biotech IPO: Listing date of the Indian Public Offering (IPO) of Concord Biotech Limited has been fixed on 18th August 2023 i.e. today. As per the BSE notice, effective from Friday, August 18, 2023, the equity shares of Concord Biotech Limited shall be listed and admitted to dealings on the exchange in the list of ‘B’ group of securities. Concord Biotech IPO listing will take place in a special pre-open session at 10:00 AM.
According to stock market experts, Concord Biotech shares may have a moderate debut on Dalal Street as the secondary market has been reeling under pressure for near one week. However, they maintained that much will depend upon the kind of opening Indian stock market gets on Friday. In case of strong opening we may see Concord Biotech share price open at around ₹880 to ₹900 apiece levels whereas in case of weak opening, Concord Biotech IPO listing price could be around ₹850 to ₹860 apiece levels.
Expecting moderate debut of Concord Biotech shares, Vaibhav Kaushik, Research Analyst at GCL Broking said, “We are expecting moderate debut of Concord Biotech shares on Dalal Street. The public issue received strong response from investors and primary market is also looking strong in last few months. However, secondary market is real concern as it has been trading weak for near one week.”
On challenges that Concord Biotech Limited shares may have to face after listing, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart said, “Concord Biotech is a leading API company with a proven track record. But its international operations expose it to various complex risks. Additionally, the industry has been facing margin pressure recently. It is also worth noting that this IPO was purely an OFS. All these factors and current market sentiment somewhere made an impact on its subscription rate as well, where it got subscribed to only 3.78 times in the retail category, but it received a great response from QIBs with 67.67 times subscription.”
Concord Biotech IPO listing price prediction
Speaking on expected Concord Biotech IPO listing price, Vaibhav Kaushik of GCL Broking said, “If the market opens on a positive note, then in that case we may see Concord Biotech share price opening at around ₹880 to ₹900 range whereas in case of tepid or weak market opening, Concord Biotech shares may list in ₹850 to ₹860 apiece range.”
What GMP signals?
According to market observers, shares of Concord Biotech Limited are available at a premium of ₹126 in grey market today. This means, Concord Biotech IPO grey market premium (GMP) today is ₹126 and grey market is expecting that Concord Biotech IPO listing price would be around ₹867 ( ₹741 + ₹126), which is around 17 per cent higher from Concord Biotech IPO price band of ₹705 to ₹741 per equity share.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 18 Aug 2023, 06:55 AM IST