Leading biopharmaceutical business Concord Biotech is situated in India and specialised in fermentation-based active medicinal components. They provide oncology APIs and immunosuppressants to more than 70 nations, including regulated markets like the U.S., Europe, and Japan. The business is one of the few fermentation-based API producers that has scaled up effectively, with a market share of more than 20% by volume in 2021. The Concord Biotech Limited initial public offering (IPO) has begun yesterday and will be accepting bids through August 8th, 2023.
The Concord Biotech IPO price range has been set by the biopharmaceutical business at ₹705 to ₹741 per equity share. On August 18, it is planned to list Concord Biotech’s shares on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). With its inaugural share offering of 20,925,652 shares, Concord Biotech hopes to raise close to Rs 1,551 crore, underscoring the company’s ambitious plans for expansion. Investors are required to submit a minimum of a single lot, which is 20 shares. A maximum of 13 lots could be bid on by retail investors – India Today Reported
Image source: Concord Biotech
