Closing of Concord Biotech IPO Today : GMP, Subscription, Experts, and More
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Concord Biotech IPO GMP : Premium Shares Available at ₹202
The Concord Biotech IPO subscription window is set to close today, marking the end of the public offer period from August 4th to August 8th, 2023. Investors and market enthusiasts have been closely watching the developments of this IPO.
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Concord Biotech IPO Overview
The much-anticipated Concord Biotech Initial Public Offering (IPO) commenced its bidding phase on August 4th, 2023, and is set to conclude on August 8th, 2023. Today, the clock runs out for potential investors to participate in the IPO of this Rekha Jhunjhunwala-backed company. However, an interesting twist in the market’s dynamics and robust subscription status has pushed the grey market sentiment towards a bullish trend for the Concord Biotech IPO. As of now, market observers report that shares of Concord Biotech are trading at a notable premium of ₹202 in the grey market.
Concord Biotech IPO GMP Today
Market analysts have shared that the Grey Market Premium (GMP) for the Concord Biotech IPO today stands at ₹202, marking a significant increase from the previous GMP of ₹153 recorded on Monday. The strong investor response and the reversal of trends in the Indian stock market have been identified as the primary drivers behind this substantial surge in the Concord Biotech IPO GMP. If the positive sentiments in the secondary market continue, this trend might maintain its upward trajectory.
Furthermore, experts anticipate that the Concord Biotech IPO listing price could hover around ₹943 (₹740 + ₹202), indicating a potential increase of approximately 27% from the IPO price band set at ₹705 to ₹741 per equity share.
Concord Biotech IPO Subscription Status
As of 02:03 PM on the third day of the bidding period, the public issue has witnessed a subscription of 10.96 times, with the retail segment being subscribed 3.12 times. The Non-Institutional Investors (NII) category has demonstrated an impressive subscription of 11.28 times, while the Qualified Institutional Buyers (QIB) portion has garnered a substantial subscription of 24.42 times. Moreover, eligible employees participating in the Employee Reservation Portion can benefit from a ₹70 discount per equity share.
Expert Reviews on Concord Biotech IPO
Reliance Securities’ research report sheds light on the valuation of the Concord Biotech IPO. Based on the FY23 financials, the IPO is priced at a P/E ratio of 32.3x, an EV/EBITDA ratio of 22.5x, and an EV/Sales ratio of 9.1x, considering the upper price band. Concord Biotech’s strong foothold in therapeutic areas positions it well to leverage industry growth opportunities. The immunosuppressant API portfolio is poised to be a significant contributor to the company’s API business in the foreseeable future. Additionally, the Research and Development team is actively engaged in developing new formulations, with plans to seek ANDA approvals from the USFDA.
Both Reliance Securities and Ventura have expressed a favorable stance on the IPO, recommending a “subscribe” rating. Ventura highlights the company’s growth prospects and robust fundamentals, valuing CBL at a P/E of 32.3x, endorsing the idea of subscription at the upper price band of ₹741.
Key Details about Concord Biotech IPO
The Concord Biotech IPO allotment date is projected to fall on August 11th, 2023. The IPO is earmarked for listing on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), with the expected listing date set for August 18th, 2023.
Conclusion
In summary, Concord Biotech’s IPO has garnered significant attention from investors and experts alike. Its impressive subscription numbers, positive market sentiments, and expert endorsements point towards a promising trajectory for the company. As always, investors are advised to consult certified experts before making any investment decisions.
FAQs About Concord Biotech IPO
1. What is the Concord Biotech IPO GMP today?
The Grey Market Premium for the Concord Biotech IPO today is ₹202, marking a substantial increase from the previous value.
2. When is the Concord Biotech IPO subscription period ending?
The Concord Biotech IPO subscription window is set to close on August 8th, 2023.
3. What is the projected Concord Biotech IPO listing price?
Market observers suggest that the Concord Biotech IPO listing price could be around ₹943, indicating a potential 27% increase from the IPO price band.
4. What are the subscription numbers for the Concord Biotech IPO?
As of the third day of bidding, the Concord Biotech IPO has been subscribed 10.96 times overall, with the retail portion being subscribed 3.12 times.
5. When is the Concord Biotech IPO likely to be listed?
The Concord Biotech IPO is expected to be listed on August 18th, 2023, on both the NSE and BSE.