Concord Biotech Limited, an India-based biopharma company, holds a major position as a top global developer and manufacturer of select fermentation-based APIs across oncology and immunosuppressants. In Year 2021, Concord Biotech Limited commanded a substantial market share, based on volume, in this domain, delivering its products to over 70 countries which also includes regulated markets such as India, the United States, Europe, and Japan.
Concord Biotech Limited specialises in handling the complex fermentation process, which includes working with microbial strains and cultures, regulating different process parameters, and finally performing several purification procedures. This intricate technical skill, as well as the massive capital commitment necessary, establish major obstacles to entry in the fermentation-based API field, ensuring the company’s long-term advantage.
In 2016, Concord Biotech made a strategic move into the formulations segment, marketing 27 brands across immunosuppressants, nephrology drugs, and anti-infective drugs for critical care in India and emerging markets. The company’s presence spans 20 states and five union territories in India, facilitated by its sales team.
With its focus on research and development, Concord Biotech has established two DSIR-approved R&D units comprising a team of 163 members, including those with doctoral qualifications. The R&D team is actively involved in advancing products, including complex ones, from R&D to commercialization. Furthermore, Concord Biotech offers contract research and manufacturing services, collaborating with third-party pharmaceutical companies for the development of APIs and formulations.
The company serves over 200 customers in more than 70 countries, including reputed names such as Intas Pharmaceuticals Limited and Glenmark Pharmaceuticals Limited. It has forged long-term supply agreements with some of its customers, fostering stable relationships that have lasted for an average of nine years with its top ten customers by revenue.
Concord Biotech Limited IPO Complete Details:
| IPO Date | 04 August 2023 to 08 August 2023 |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE BSE |
| Face Value | 01 Rs. Per Share |
| Price | 705 to 741 Rs. |
| Lot Size | 20 |
| Issue Size | 20,925,652 shares (Rs.1,551.00 Cr) |
| Employee Discount | 70 Rs. Per Share |
| Offer For Sale | 20,925,652 shares (Rs.1,551.00 Cr) |
| Listing Date | 18 August 2023 |
Concord Biotech Limited IPO Timetable:
| Activity | Date* |
|---|---|
| Opening Date | 04 August 2023 |
| Closing Date | 08 August 2023 |
| Allotment | 11 August 2023 |
| Initiation of Refunds | 14 August 2023 |
| Credit of Shares to Demat Account | 17 August 2023 |
| Listing Date | 18 August 2023 |
Company Financial Details:
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Borrowings |
|---|---|---|---|---|---|
| 31 March 2021 | 1,182.55 | 630.75 | 234.89 | 999.37 | 86.35 |
| 31 March 2022 | 1,312.80 | 736.35 | 174.93 | 1,103.22 | 60.59 |
| 31 March 2023 | 1,513.98 | 888.48 | 240.08 | 1,290.00 | 31.24 |
AS OF NOW, the GMP OF Concord Biotech Limited is Around 122 Rs.