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Flattrade Kosh > IPOs > Concord Biotech Limited IPO
IPOs

Concord Biotech Limited IPO

Posted by Flattrade August 1, 2023
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Concord Biotech Ltd initial public offering (IPO) opens for subscription on August 4 (Friday) and closes on August 8, 2023 (Tuesday). The price band is set at Rs 705—741 per share. The company’s employees will get a discount of Rs 70 per share to the final issue price.

The issue size is Rs 1551 crore and the IPO comprises of only offer for sale of 2,09,25,652 shares. The face value is set at Re 1 per share and the lot size is 20 shares.

Company Summary

Concord Biotech is a biopharma company and one of the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology in terms of market share and based on volume in 2022. The company commanded a market share of over 20% by volume in 2022 across identified fermentation-based API products, including mupirocin, irolimus, tacrolimus, mycophenolate sodium and Cyclosporine. The company has 23 APIs across immunosuppressants, oncology and anti-infectives, and 77 approved products for formulations.

Concord Biotech aims to grow their immunosuppressant API portfolio, which will remain one of the key contributors to its API business in the near future. In addition to their immunosuppressant API portfolio, it also aims to increase the sales of their APIs across other therapeutic areas, especially the following: Anti-bacterial APIs, Anti-fungal APIs, and Oncology drug APIs.

The company has over 200 customers in over 70 countries including regulated markets, such as the United States, Europe and Japan, and India as of March 31, 2023 for its APIs and formulations. In 2016, Concord Biotech launched its formulation business in India as well as emerging markets, including Nepal, Mexico, Indonesia, Thailand, Ecuador, Kenya, Singapore and Paraguay, and have further expanded to the United States.

Concord Biotech has three manufacturing facilities in Gujarat that comprises of API manufacturing facilities in Dholka and Limbasi and a formulation manufacturing facility in Valthera. The company’s total installed fermentation capacity is 1,250 m3.

Company Strengths

  • Established presence across the complex fermentation value chain.
  • Global leadership in immunosuppressant APIs along with a wide spectrum of complex fermentation-based APIs across multiple therapeutic areas.
  • Expansive manufacturing facilities with a consistent regulatory compliance track record and also strong R&D capabilities.
  • Diversified global customer base with long-standing relationships with key customers.
  • Experienced promoters and management team supported by marquee investors.
  • Financial track record of rapid growth and consistent profitability with healthy cash flows and shareholder returns.

Company Financials

Period Ended

FY23

FY22

FY21

Total Assets (Rs in crore)

1,513.98

1,312.80

1,182.55

Total Revenue (Rs in crore)

888.48

736.35

630.75

EBITDA (Rs in crore)

345.25

269.64

327.1

EBITDA Margin

40.47%

37.82%

53.02%

Profit After Tax (Rs in crore)

240.08

174.93

234.89

PAT Margin

28.14%

24.54%

38.07%

Return on Equity

20.06%

16.64%

26.55%

Return on Capital Employed

24.27%

20.55%

28.54%

Purpose of the IPO

The objects of the offer are to achieve the benefits of listing the equity shares on the stock exchanges and sale of up to 2,09,25,652 equity shares by selling shareholder. The company also expects that the proposed listing of its equity shares will enhance our visibility and brand image.

Company Promoters

Sudhir Vaid and Ankur Vaid are the promoters of the company.

IPO Details

IPO Subscription Date

August 4 to August 8, 2023

Face Value

Re 1 per share

Price Band

Rs 705 to Rs 741 per share

Lot Size

20 Shares

Total Issue Size

20,925,652 shares aggregating up to Rs 1,551 crore

Offer for Sale

20,925,652 shares aggregating up to Rs 1,551 crore

Issue Type

Book Built Issue IPO

Listing At

BSE, NSE

IPO Lot Size

Application

Lots

Shares

Amount

Retail (Minimum)

1

20

Rs 14,820

Retail (Maximum)

13

260

Rs 1,92,660

Small HNI (Minimum)

14

280

Rs 2,07,480

Small HNI (Maximum)

67

1,340

Rs 9,92,940

Large HNI (Minimum)

68

1,360

Rs 10,07,760

Allotment Details

Event

Important Date

Allotment of Shares

August 11, 2023

Initiation of Refunds

August 14, 2023

Credit of Shares to Demat Account

August 17, 2023

Listing Date

August 18, 2023

To check allotment, click here

Apply for IPO
Tags: active pharmaceutical ingredient API Biopharma Biotech BSE Demat Account Flattrade INITIAL PUBLIC OFFERING IPO IPO 2023 IPOs Latest IPO Market News Market Update Markets nifty Nifty Today Pharmaceuticals sensex SENSEX Today Share Market Stock Market stocks Upcoming IPO
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