Concord Biotech Stock Lists At 21% Premium Over IPO Price; Should You Buy, Sell Or Hold? - News18
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Last Updated: August 18, 2023, 10:44 IST Concord Biotech makes a strong debut on Dalal Street Shares of Concord Biotech listed at a premium of 21 per cent over the IPO price of Rs 741 on the exchanges Concord Biotech Listing BSE, NSE: Shares of Concord Biotech listed at a premium of 21 per cent over the IPO price of Rs 741 on the exchanges in Friday’s trade. On both NSE and BSE, the share debuted at Rs 900 apiece, a premium of Rs 159 as against the issue price. Most experts feel the subdued market conditions seen in the last three-odd weeks had some impact on the listing performance. Apart from subdued market conditions, the company not receiving any money from the public issue, and inconsistent financial performance in the past are other reasons listed by them. The Concord Biotech IPO concluded last week with an overall subscription of almost 25 times the equity on offer. The maiden public issue of the Ahmedabad-based pharma company, which comprised only an offer-for-sale