Concord flies high

Concord Biotech is a new listing and what a surge it has shown. Listing on the BSE at Rs.900.05, it rose to Rs.982.65 and is currently trading around the same levels. This is a huge premium over the IPO price of Rs.741/share.

The USP of the IPO was that 24% stake is held by children of late Shri Rakesh Jhunjhunwala (since 2008).

The offer-for-sale was subscribed 24.87 times, with QIBs portion subscribing 67.67 times, with HNIs portion at 16.99 while retail investors at 3.78 times and employees at 24.48 times.