Concord Biotech Ltd initial public offering (IPO) opens for subscription on Friday, August 4, and closes on Tuesday, August 8. The allocation to anchor investors for Concord Biotech IPO is scheduled to take place on Thursday, August 3. Concord Biotech IPO price band has been fixed in the range between ₹705 to ₹741 per equity share of face value of ₹1 each. Concord Biotech IPO lot size is 20 equity shares and in multiples of 20 equity shares thereafter.
20% of the company is owned by Helix Investment Holdings Pte Ltd, which is backed by Quadria Capital Fund LP, an Asian private equity fund with a focus on healthcare. Rakesh Jhunjhunwala owned 24.09% of the company through his asset management company RARE Enterprises (via RARE Trusts). In 2004, Rekha and Rakesh Jhunjhunwala made an investment in Concord Biotech.
In terms of market share, based on volume in 2022, Concord Biotech is an Ahmedabad-based biotechnology business that ranks among the top producers and developers of a select group of fermentation-based APIs used in immunosuppressants and cancer, according to F&S Report.
Concord Biotech exports goods to more than 70 nations, including regulated markets like the United States, Europe, Japan, and India. In 2022, it expects to hold a market share of more than 20% by volume for specific fermentation-based API products like mupirocin, sirolimus, tacrolimus, mycophenolate sodium, and cyclosporine. With presence in 20 states and five union territories in India, Concord Biotech has a total of 387 reactors and 41 industrial blocks, as per F&S Report.
Concord Biotech reported strong financial results for the fiscal year that ended in March FY23, with revenue and profit both up significantly from the prior year—each by 20% and 37.2%, respectively.
Mr. Sudhir Vaid Chairman & Managing Director of Concord Biotech began his career in 1975 as a biotechnologist and went on to work with several leading biotechnology companies in India and abroad, before eventually becoming an entrepreneur in the year 2000. Backed by more than 40 years of rich experience in Corporate, R&D and Consultancy, Mr. Vaid has further expanded his knowledge horizons by working along with the leading global API companies in the area of Biotechnology encompassing Vitamins, Statins, Hormones and Antibiotics.
According to Zauba, Concord Biotech Limited is a Public incorporated on 23 November 1984. It is classified as Non-govt company and is registered at Registrar of Companies, Ahmedabad. Its authorized share capital is Rs. 110,000,000 and its paid up capital is Rs. 104,616,208.