Concord Biotech is a biotechnology company and a leading maker of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on volume in 2022. The company is backed by Rakesh Jhunjhunwala s Rare Enterprises and another leading investment firm Quadria Capital Fund. Ahead of the listing, the company s shares commanded a premium of Rs 120 in the unlisted market.
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