Concord Biotech IPO allotment: Check your application status & latest GMP

Concord Biotech is likely to finalise the basis of allotment of its shares on Friday, August 11, 2023. The Rs 1,551 crore primary offering had received a strong response from the investors during the three-day bidding process, which opened between August 4-8.

The IPO of Concord Biotech was sold in the range of Rs 705-741 apiece, was overall subscribed 24.87 times. The portion for qualified institutional bidders was booked 67.67 times, while the non-institutional investors' category was subscribed 16.99 times. The quota reserved for retail investors was subscribed 3.78 times, while the employee portion fetched 24.48 times bids.

Grey market premium (GMP) of Concord Biotech has remained largely stable after a slight improvement. Last heard, Concord Biotech was commanding a premium of Rs 155-160 in the grey market, which was around Rs 130 on August 8, the last of bidding. The current grey market signal suggests a listing of 20 per cent for the investors receiving the allotment.

Incorporated in 1984, Concord Biotech is a homegrown research and development (R&D) driven biopharma company. The company is ranked among the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology, marking its presence in more than 70 countries including India, Japan, US and Europe.

Majority of the brokerage firms are positive on the issue and have suggested subscribing to the issue citing its strong business model, global presence and in-line valuations. However, a few analysts have suggested avoiding the issue citing its limited upside potential, complete OFS nature and dependency of large clients.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Concord Biotech Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of Link Intime India Private Limited. (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of Link Intime India Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.

Bidders who could not get allotment in the IPO may see the initialisation of refunds on Monday, August 14. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Thursday, August 17. The listing of the IPO is likely on Friday, August 18.