Concord Biotech was incorporated on November 23, 1984. The company 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 2022, supplying to over 70 countries including regulated markets, such as the United States, Europe and Japan, and India.
| Bidding Dates |
|---|
| 04 Aug 2023 - 08 Aug 2023 |
| Subscription |
|---|
| 24.87x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,820 | 1 | 13 | 20 | 20.9 M | ₹705 - ₹741 | 80 % | ₹14752.6 M - ₹15505.9 M | RHP DOC |
Concord Biotech IPO SUBSCRIPTION STATUS
08 Aug '23Concord Biotech IPO overall subscription rate was 24.87 times the total available shares
Concord Biotech IPO retail subscription rate was 3.78 times in the retail segment
Concord Biotech IPO non-institutional investor subscription rate was 16.99 times in the non-institutional investor category
Concord Biotech IPO Qualified Institutional Bidder subscription rate was 67.67 times the available shares for Qualified Institutional Bidder
Concord Biotech IPO Employees subscription rate was 24.48 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
08 Aug 2023 (Day 3) | 3.78x | 16.99x | 67.67x | 24.48x |
07 Aug 2023 (Day 2) | 2.26x | 5.22x | 1.61x | 15.68x |
04 Aug 2023 (Day 1) | 0.58x | 5.73x | 0.01x | 1.01x |
Concord Biotech FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 2,400.8 | 8,531.7 | -2,460.0 | -3,910.6 | 40.5% |
| FY22 | 1,749.3 | 7,129.3 | 2,074.8 | 520.3 | 37.8% |
| FY21 | 2,348.9 | 6,169.4 | 1,668.2 | -373.6 | 53.0% |
Concord Biotech IPO SUBSCRIPTION STATUS DETAILS
Concord Biotech had 20.9 M shares on offer
Concord Biotech IPO offer price was in the range ₹705 - ₹741
Concord Biotech IPO minimum Investment was ₹14820
Concord Biotech IPO issue size was ₹ 14752.6 M - ₹ 15505.9 M
Concord Biotech had a minimum lot size of 20 Shares per application
Concord Biotech NUMBER OF SHARES ON OFFER
Concord Biotech IPO IMPORTANT DATES
| Issue Open Date | 04 Aug 2023 |
| Issue close Date | 08 Aug 2023 |
| Allotment Date | 11 Aug 2023 |
| Refund Date | 14 Aug 2023 |
| Demat Account Credit Date | 17 Aug 2023 |
| Listing Date | 18 Aug 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Concord Biotech Allotment Status | Exchange |
Concord Biotech IPO subscription opened on 04 Aug 2023, and closed on 08 Aug 2023
IPO allotment for Concord Biotech was finalized on Friday, 11 Aug 2023
IPO listing for Concord Biotech was on NSE and BSE on Friday, 18 Aug 2023
Concord Biotech IPO LISTING GAINS
| Issue Price (adjusted) | 741.0 |
| Listing Open Price | 900.0 |
| Listing Close Price | 942.8 |
| Listing Gain% | 21.5% |
| Current Gain% | 84.2% |
Concord Biotech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Concord Biotech Ltd. | 1365 | 14280.1 | 51.9 | -2.3 | 12.9 | 12.9 | 11.7 | 1107.2 | -11 | 260.9 | -29.8 | 26.3 | -22.7 |
| Biocon Ltd. | 426.4 | 69482 | 140.3 | 4.9 | 4 | 1.1 | 0.6 | 17269.5 | 4.9 | 385.6 | -61.9 | 3 | 28.6 |
| Advanced Enzyme Technologies Ltd. | 324.4 | 3631.9 | 21.9 | 1 | 4.8 | 10.3 | 9.2 | 780.6 | 16.5 | 168.7 | 28.7 | 14.8 | 21.2 |
| Panacea Biotec Ltd. | 413 | 2529.7 | -471.1 | -13.1 | 4 | -0.6 | -0.4 | 656.7 | 13.3 | -5.4 | 35.8 | -0.9 | 35.8 |
| Alpa Laboratories Ltd. | 68.1 | 143.3 | 10 | -0.4 | 1.4 | 7.6 | 5.8 | 121.6 | -10.5 | 14.1 | -27.6 | 6.8 | -27 |
| CCME Global Ltd. | 85.2 | 110.7 | -154.9 | 1.3 | -1.8 | -1.6 | 0 | -99 | -0.7 | -120.4 | -0.5 | -120.4 |
Concord Biotech INFORMATION ON IPO ISSUE
About Concord Biotech
Concord Biotech was incorporated on November 23, 1984. The company 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 2022, supplying to over 70 countries including regulated markets, such as the United States, Europe and Japan, and India.
Object of the Issue
- Achieve the benefits of listing equity shares on the stock exchanges
- Carry out the offer for sale of up to 20,925,652 equity shares by the selling shareholder
Concord Biotech - PROMOTERS
| Name |
|---|
| Sudhir Vaid |
| Ankur Vaid |
Concord Biotech Book Running Lead Manager
Kotak Mahindra Capital Company Limited
cbl.ipo@kotak.com
Citigroup Global Markets India Private Limited
concord.ipo@citi.com
Concord Biotech Book Running Lead Managers
Jefferies India Private Limited
Concord.IPO@jefferies.com
Concord Biotech Registrar to the Offer
Link Intime India Private Limited
concordbiotech.ipo@linkintime.co.in
Concord Biotech Strengths
Established presence
The company has established capabilities across the fermentation value chain. The fermentation value chain encompasses aspects such as R&D, patents, key starting materials, API and formulation manufacturing, as well as marketing and distribution of fermentation-based products
Global leadership
The company has global leadership in immunosuppressant APIs along with a wide spectrum of complex fermentation-based APIs across multiple therapeutic areas
Financial track record
The company has a financial track record of rapid growth and consistent profitability with healthy cash flows and shareholder returns
Concord Biotech Risks
Dependent on few customers
The company depends on a limited number of customers for a substantial portion of its revenues. Any significant reduction in demand for the products from such customers may adversely affect the business and results of operations
Extensive government regulations
The company is subject to extensive government regulations, and if it fails to obtain, maintain or renew the statutory and regulatory licenses, permits and approvals required for the business operations, business, financial condition, results of operations and cash flows may be adversely affected
Outstanding legal proceedings
The company has been involved in matters pertaining to, among others, excise duty and income tax, pursuant to which a penalty has been imposed on the company
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,551.0 crore, of 20,925,652 shares.
The promoters of the company are Sudhir Vaid and Ankur Vaid.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 705.0 - 741.0.
The IPO application opens on Aug 04, 2023 and closes on Aug 08, 2023.
The minimum lot size for the IPO is 20. The maximum lot size for the IPO is 260.
For all category investors, the minimum application amount for this IPO is Rs. 14,820.0, the maximum value for this IPO is Rs 192,660.0.
This IPO will be allotted on Aug 11, 2023.
The refund will be credited to your account on Aug 14, 2023.
The allotted shares will be credited to your demat on Aug 17, 2023.
Concord Biotech Ltd.’s shares listed on the stock exchanges on Aug 18, 2023.