Concord Biotech: After a strong debut, Antique Broking sees 35% upside in this newly-listed stock – key reasons

Concord Biotech has seen a 34% jump in the stock price since its IPO, prompting Antique Broking to initiate coverage with a ‘buy’ rating and a target price of ₹1,340. The company is a market leader in fermentation-based APIs and has a niche portfolio with deep backward integration.

Concord Biotech makes robust debut; lists at ₹900, premium of 21.46% over IPO price

Shares of Concord Biotech made a robust debut on the bourses today, August 18. The stock listed at ₹900.05 on NSE and BSE, a premium of 21.46 percent over its issue price of ₹741.

Concord Biotech IPO allotment likely today: How to check status and latest GMP

The allotment for the initial public offer (IPO) of Concord Biotech is likely to be finalised today. Investors can check their allotment status on the issue's registrar Link Intime's website as well as on BSE.

Concord Biotech sees healthy subscription on Day 2, booked 1.85 times so far; check GMP

Concord Biotech issue was subscribed 1.85 times at 3:00 pm on the second day of bidding, August 7, 2023. It has received bids for 2.70 crore shares against 1.46 crore shares on offer.

Should you subscribe Concord Biotech IPO? Check subscription status, GMP and other key details

Most brokerages have a subscribe rating on Concord Biotech and have suggested subscribing to the issue on the back of fair valuations, a strong business model, global presence and healthy financial performance. Let's see what brokerages have to say about the issue.

Top Concord Biotech News

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Concord Biotech: After a strong debut, Antique Broking sees 35% upside in this newly-listed stock – key reasons

markets

Concord Biotech makes robust debut; lists at ₹900, premium of 21.46% over IPO price

markets

Concord Biotech IPO allotment likely today: How to check status and latest GMP

markets

Concord Biotech sees healthy subscription on Day 2, booked 1.85 times so far; check GMP