Concord Biotech files DRHP with SEBI for IPO
Concord Biotech, the Ahmedabad- grounded turmoil- grounded active pharmaceutical component (API) maker backed by Rare Enterprises and Quadria Capital, filed its Draft Red Herring Prospectus (DRHP) with request controller Securities and Exchange Board of India (SEBI) for an original public immolation (IPO).
Sources told that the IPO would be of ₹2000 crore- ₹2500 crore size. The issue with a face value of ₹ 1 per equity share is a complete offer for trade (OFS) aggregating to 20,925,652 equity shares by Helix Investment effects Pte. Limited. The offer also includes a reservation for a subscription by eligible workers.
The offer is being made through the book- structure process, wherein not further than 50% of the offer shall be available for allocation to good institutional buyers, up to 15% will be available for allocation to non-institutional stab and the remainder for retail investors.
As per DRHP, Concord has a request share of over 20% by volume in 2021 across linked turmoil- grounded API products including dactinomycin, sirolimus, tacrolimus, and mycophenolate sodium, and cyclosporine.
It supplies to over 70 countries including regulated requests similar as the US, Europe, Japan, and India. The company’s profit from operations increased by15.6% time-on-time (YoY) to Rs712.93 crore for FY22.
About Concord Biotech Limited
Concord Biotech Limited is a leading vertically integrated, R&D driven biotechnological powerhouse that manufactures Active Pharmaceutical Ingredients through fermentation & semi-synthetic process and Finished formulations. Concord founded in the year 2000 has transformed from a single-product company to a broad-spectrum solution provider, offering products across diversified therapeutic segments.
Concord is globally known for its products and has a commanding presence in more than 50 countries worldwide with efficient distribution infrastructure in markets like North America, Europe, Japan, Central & Latin America, Africa, Australia, New Zealand, Asia-Pacific as well as CIS and MENA countries, besides significant presence in India market.
Concord is actively expanding its horizons by partnering with leading Global Pharmaceutical Companies by meeting their product development needs for API’s & Finished Formulations.
Concord offers world-class API production infrastructure at Dholka located near Ahmedabad, Gujarat, India which is spread across 114,000 sq. meters. Concord is a hub to the largest number of Bioreactors in India with fermentation capacity of more than 500 m3. The manufacturing facility complies with CGMP and has been inspected by global regulatory agencies.
A state-of-the-art formulation development & manufacturing facility spread over 95000 Sq. meters at Valthera, located near Ahmedabad, India was commissioned in 2016 to manufacture pharmaceutical dosage forms like solid orals, oral liquid and suspensions, complying with global regulatory norms.
The core focus is inclined towards finished formulations into highly specialized niche segments like Immunology, Nephrology, Oncology, Critical Care and Hematology.Our dedicated taskforce at Concord has helped the Company emerge as one of the finest and fastest growing fermentation based API companies in the world.
Concord is poised for a glorious future as it is undertaking various initiatives in R&D, production and marketing of API’s & Finished products to meet the evolving & ever changing biotech needs of the market.
Vision & Mission
Create products through Biotechnology route and Service offering that enrich the lives of people by continually building on our expertise in Biotechnology. We strive to be a global power in the field of Biotechnology based products through research and development to create sustainable earnings growth and to establish long term business success.
We continue to reinforce our commitment to safety, health and environment. We endeavor for an environment where creativity and effectiveness are encouraged with the technologies for the niche market.