The Concord Biotech IPO is a public offering of 20,925,652 equity shares by Helix Investment Holdings Pte Ltd. The price band for the IPO is ₹705 to ₹741 per share, with a total issue size of ₹1,551.00 crore. The IPO opened on August 4, 2023, and closed on August 8, 2023.
Concord Biotech is a pharmaceutical company that develops, manufactures, and markets active pharmaceutical ingredients (APIs) and finished dosages. The company has a strong presence in the fermentation-based API market, and commands a market share of over 20% by volume in 2022.
The IPO proceeds will be used to fund the company’s growth plans, including the expansion of its manufacturing facilities, the development of new products, and the repayment of debt.
The IPO has been well-received by investors, and the grey market premium for the shares is around 20-25%. The company is expected to list on the BSE and NSE on August 18, 2023.
Here are some of the key things to know about the Concord Biotech IPO:
- The company is backed by Rakesh Jhunjhunwala’s family office, Quadria Capital.
- The company has a strong track record of profitability, with a three-year average ROE and ROCE of 21.1% and 24.5%, respectively.
- The company is well-positioned to benefit from the growth of the pharmaceutical industry in India.
- The IPO is priced at a reasonable valuation, with a P/E ratio of around 15x.
Overall, the Concord Biotech IPO is a good investment opportunity for investors looking for exposure to the growing pharmaceutical industry in India. However, it is important to do your own research before investing.
Here are some of the pros and cons of the Concord Biotech IPO:
Pros:
- Strong track record of profitability
- Well-positioned to benefit from the growth of the pharmaceutical industry in India
- Reasonably priced
Cons:
- The company is a relatively small player in the pharmaceutical industry
- The IPO is priced at a premium to other recent IPOs in the pharmaceutical sector.
For more details please see upcoming concord biotech ipo.
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