Concord Biotech Shares End At 27.11% Premium Over IPO Price On Market Debut

Shares of Concord Biotech Ltd. were listed at Rs 900.05 apiece on the National Stock Exchange and BSE, a premium of 21.46% over the IPO price of Rs 741.

The shares ended at a premium of 27.11% over the IPO price, and gained 4.64% from its listing price to end at Rs 941.85 apiece.

Concord Biotech launched its initial public offering on Aug. 4, which was subscribed 58% on day 1, 2.72 times on day 2, and 24.87 times on day 3.

The India-based biopharma company’s IPO comprises 2.093 crore equity shares offered by Helix Investments through an offer for sale. This represents 20% of the pre-offer shareholding of the company.

Concord Biotech is a leading India-based biopharma company that specialises in fermentation-based active pharmaceutical ingredients. They supply immunosuppressants and oncology APIs to over 70 countries, including regulated markets like the U.S., Europe, and Japan. With a market share of over 20% by volume in 2021, the company is among the few successfully scaled-up fermentation-based API manufacturers.