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Concord Biotech IPO GMP, Price, Dates & Allotment Details 2023

Concord Biotech IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Concord Biotech IPO will open on August 4 and close on August 8, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 1,551 crores through this public offering, consisting of 20,925,652 shares with a face value of ₹ 1 each, which will be issued at a price of ₹ 705 to ₹ 741 per share.

Concord Biotech Limited (“the Company”)

Incorporated in 1984, Concord Biotech Limited is an India-based biopharma company and 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 2021 (Source: F&S Report), supplying to over 70 countries, including regulated markets such as the United States, Europe, Japan, and India.

We are among the few companies globally that have successfully and sustainably established and scaled up fermentation-based API manufacturing capabilities (Source: F&S Report).

In 2016, we launched our formulation business in India as well as emerging markets, including Nepal, Mexico, Indonesia, Thailand, Ecuador, Kenya, Singapore, and Paraguay, and have further expanded to the United States.  

Noteworthy Highlight

  • Concord Biotech Limited commanded a market share of over 20% by volume in 2021 across identified fermentation-based API products, including dactinomycin, sirolimus, tacrolimus, mycophenolate sodium, and cyclosporine. (Source: F&S Report) As of March 31, 2022,
  • It had a total installed fermentation capacity of 1250 m3.

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. Achieve the benefits of listing the Equity Shares on the Stock Exchanges and
  2. Carry out the Offer for Sale of up to 20,925,652 Equity Shares by the Selling Shareholder.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth1,2901,103999
Total Assets1,5141,3131,183
Total Borrowings316186
Total Revenue888736631
Profit After Tax240175235
(Amount in ₹ Crore)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ 705 to ₹ 741 per share
Employee Discount₹ 70 per share
Face Value₹ 1 per share
Market Lot20 shares
Issue Size20,925,652 shares (aggregating up to ₹ 1,551 crores)
Offer for Sale20,925,652 shares (aggregating up to ₹ 1,551 crores)
Listing AtNSE, BSE

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net issue
NII (HNI) shares offeredNot less than 15% of the net Issue
Retail shares offeredNot less than 35% of the net Issue

GMP: Concord Biotech IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Concord Biotech IPO

The issue opens for subscription on August 4, 2023, and closes for subscription on August 8, 2023 (both days inclusive). The basis of allotment will be finalised on August 11, 2023, and the refunds will be initiated on August 14, 2023. In addition, the demat credits are expected to happen on August 17, 2023, and the stock will be listed on the NSE and BSE on August 18, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateAugust 4, 2023,
Closing DateAugust 8, 2023
Basis of AllotmentAugust 11, 2023
Initiation of RefundsAugust 14, 2023
A credit of shares to Demat A/cAugust 17, 2023
Listing DateAugust 18, 2023

Lot Size

The lot size of the Concord Biotech IPO is 20 shares. A retail-individual investor can apply for up to 13 lots, i.e. 260 shares of ₹ 192,660.

ApplicationsLotsSharesAmount
Retail (Minimum)120₹ 14,820
Retail (Maximum)13260₹ 192,660
S-HNI (Minimum)14280₹ 207,480
S-HNI (Maximum)671,340₹ 992,940
B-HNI (Minimum)681,360₹ 1,007,760

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationConcord Biotech Limited
1482-86, Trasad Road Dholka, Ahmedabad – 382225
Phone: 079-6813 8700
Email: [email protected]
Website: http://www.concordbiotech.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/mipo/ipoallotment.html
IPO Lead Manager(s)1. Kotak Mahindra Capital Company Limited 
2. Citigroup Global Markets India Private Limited 
3. Jefferies India Private Limited 

FAQs

The finalisation of the basis of allotment for the Concord Biotech IPO will be done on August 11, 2023, and the allotted shares will be credited to your demat account by August 16, 2023. Check the Concord Biotech IPO allotment status.

The Concord Biotech IPO shares listing date is August 17, 2023.

Click here for more FAQs.

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