Concord is one of the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on volume in 2022.
Concord Biotech IPO will hit the street this week. Listed below are some of the key things to know about the Concord Biotech IPO.
Concord Biotech IPO: Key things to know
Concord Biotech IPO Dates: Concord Biotech IPO opens on August 4 and will close on August 8. The finalisation of allotment is expected to take place on August 11, while refunds will be initiated on August 14. The shares will be credited to the Demat accounts of eligible investors on August 17.
IPO Price Band: The company has set the price band for the public issue at ₹705 to ₹741 per share.
Also Read: Concord Biotech IPO: Jhunjhunwala-backed Concord IPO sets price band at ₹705-741
IPO Size: The company plans to raise anywhere between ₹1,498-1,551 crore from the IPO. At the upper end of the price band, the Concord Biotech IPO size is ₹1,551 crore. The IPO values the company at around ₹7,752 crore.
Issue Details: The Rekha Jhunjhunwala-backed Concord Biotech IPO consists of a pure offer-for-sale (OFS) of 2,09,25,652 equity shares by Helix Investment Holdings Pte Ltd.
Lot Size: The Concord Biotech IPO lot size is 20 shares and the minimum investment amount required by investors is ₹14,820.
IPO Lead Managers: The book running lead manager for the issue are Kotak Mahindra Capital, Citigroup Global and Jefferies India
IPO Registrar: Link Intime India Pvt Ltd is the registrar for Concord Biotech IPO.
Key shareholders: Helix Investment Holdings Pte Ltd holds a 20% stake in the company. Helix Investment Holdings is backed by Quadria Capital Fund LP, an Asian private equity fund with a focus on healthcare.
Rakesh Jhunjhunwala owned 24.09% of the company through his asset management company RARE Enterprises (via RARE Trusts), which is now in the name of Rekha Jhunjhunwala.
Concord Biotech IPO Reservation: Concord Biotech has reserved 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), 15% for Non Institutional Investors (NII), and 35% of the offer is reserved for Retail Investors. Upto 10,000 equity shares are reserved for the company’s employees, who are offered shares at a discount of ₹70 apiece.
Concord IPO Listing: Concord Biotech shares are expected to be listed on August 18 on BSE and NSE.
Also Read: SBFC Finance IPO: Latest GMP, price band, risks, and other key details
Concord Biotech IPO GMP today
Concord Biotech IPO GMP today, or grey market premium today, is ₹260 per share. This indicates Concord Biotech share price was trading higher by ₹260 in the grey market on Tuesday, according to data available on IPOWatch. The GMP today has fallen from ₹325 on Monday.
Considering the upper end of the IPO price band and the current grey market premium, the estimated listing price of Concord Biotech shares is ₹1,001 apiece, which is 35% higher than the IPO price.
Concord Biotech Financials
Concord Biotech’s net profit at the end of March 31, 2023 was ₹240.08 crore, up from ₹174.93, YoY.
The company’s revenue from operations as of March 2023 was at ₹853.17 crore as compared to ₹712.93 crore, YoY.
About Concord Biotech
Concord is amongst the few companies globally that have successfully and sustainably established and scaled up fermentation-based API manufacturing capabilities.
The company commanded a market share of over 20% by volume in 2022 across identified fermentation-based API products, including mupirocin, sirolimus, tacrolimus, mycophenolate sodium and cyclosporine.
As of June 30, 2023, Concord had a portfolio of 57 brands and 77 products manufactured by them, including 23 APIs and 53 formulations. In addition, as of March 31, 2023, they had 80 out-licensed formulation which they distributed in India under their brands.
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Updated: 01 Aug 2023, 04:30 PM IST