Rakesh Jhunjhunwala Backed Concord Biotech To Be Listed | Stock Listing
Автор: ET Now
Загружено: 2023-08-17
Просмотров: 1107
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Analysts are of the opinion that a market premium of over 15% on the issue price is justified based on the company's business model, which comprises many niche biopharma products. The shares of Concord Biotech, which received a decent response to the IPO, will debut on the exchanges on August 18. Ahead of the listing, the shares are fetching a premium of ₹120 in the unlisted market. If we consider the upper price band of ₹741, the stock is expected to list at a premium of 16%. Analysts are of the opinion that a market premium of over 15% on the issue price is justified based on the company's business model, which comprises many niche biopharma products. Fermentation-based API major Concord Biotech saw 24.86 times subscription for its IPO at close. The qualified institutional buyer portion was booked the most at 67.67 times; non-institutional investors at 16.99 times, whereas, retail category was subscribed 3.78 times. Watch ET Now for more details.
#concordbiotech #rakeshjhunjhunwala #stocklisting #stocknews #etnow
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