Concord Biotech IPO
Concord Biotech Limited (CONCORDBIO) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 18 August 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +2.2% (likely range -4% to +16%), day's high +4.5%, chance of a gain 50%. Actual: +21.5% at the open, +33.3% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 41,83,130 | 28,30,64,540 | 67.7x | |
| NII (HNI) total | 31,37,348 | 5,33,05,680 | 17.0x | |
| Big NII (above ₹10 lakh) | 20,91,565 | 4,03,68,000 | 19.3x | |
| Small NII (₹2-10 lakh) | 10,45,783 | 1,29,37,680 | 12.4x | |
| Retail | 73,20,479 | 2,76,82,480 | 3.78x | |
| Employees | 10,000 | 2,44,840 | 24.5x | |
| Total | 1,46,50,957 | 36,42,97,540 | 24.9x |
Bids on NSE and BSE together, as published by NSE, as of 08 Aug 2023, 07:00 PM. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Concord Biotech's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Uniparts IndiaDec 2022 | 67.1x | 17.9x | 4.63x | 25.3x | ₹836 Cr | -0.3% | 0.0% |
| Syrma SGS TechnologyAug 2022 | 87.6x | 17.5x | 5.53x | 32.6x | ₹911 Cr | +18.2% | +41.8% |
| Kaynes Technology IndiaNov 2022 | 98.5x | 21.2x | 4.10x | 34.2x | ₹872 Cr | +32.5% | +33.9% |
| Bikaji Foods InternationalNov 2022 | 80.6x | 7.10x | 4.77x | 26.7x | ₹881 Cr | +7.6% | +11.6% |
| Home First Finance Company IndiaJan 2021 | 52.5x | 39.0x | 6.59x | 26.7x | ₹1,156 Cr | +19.5% | +23.6% |
| CarTrade TechAug 2021 | 35.4x | 41.0x | 2.75x | 20.3x | ₹2,999 Cr | -1.1% | 0.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Citigroup Global Markets India | 35 | +14.2% | 63% |
| Jefferies India | 26 | +19.5% | 81% |
Offer documents (NSE)
Frequently asked
What is the Concord Biotech IPO price band and lot size? ₹705–741 per share, with a lot of 20 shares, so the smallest retail bid is ₹14,820.
How many times has it been subscribed? 24.9x overall: QIB 67.7x, NII 17.0x, retail 3.78x, employees 24.5x.
How did it list? It opened at ₹900, +21.5% against the issue price of ₹741, and closed its first day +27.2%.
