Concord Biotech’s IPO, valued at Rs 1551 crore, will be open for subscription from August 4 to August 8, featuring an offer for sale (OFS) by investor Helix Investment Holdings Private Limited. Rekha Jhunjhunwala, a veteran investor, holds a stake in the company through Rare Enterprises. The IPO has set a price band of Rs 705-741 per share and will issue shares through an OFS window.
Concord Biotech IPO Details
The company, established in 1984, operates in the biopharma sector, focusing on R&D. It is a leading producer of Active Pharma Ingredients (API) for immunological and cancer-related diseases, supplying products to over 70 countries worldwide. The company’s financials have shown fluctuating profits, reaching Rs 234.89 crore in FY 2021, decreasing to Rs 174.93 crore in FY 2022, and rebounding to Rs 240.08 crore in FY 2022-23.
Concord Biotech’s revenue climbed from Rs 1,182.55 crore in FY 2021 to Rs 1,513.98 crore in FY 2023. The IPO will close on August 8, with share allotment scheduled for August 11, and listing on BSE and NSE on August 18.