It's a day of anticipation and excitement as Concord Biotech Limited's Initial Public Offering (IPO) takes its grand step onto the stock market platform. Today, on August 18, 2023, the much-awaited listing date has arrived. In an announcement by the BSE, the equity shares of Concord Biotech Limited are all set to be listed and engaged for trading. This debut is scheduled for a special pre-open session, commencing at 10:00 AM.
Industry pundits are keeping a close eye on Concord Biotech's market entry, foreseeing a measured debut on Dalal Street. The stock market has witnessed a recent wave of fluctuation, potentially influencing the IPO's performance. The outcome is poised to be largely influenced by the overall mood of the Indian stock market on this very day. A buoyant start could potentially result in the Concord Biotech share price opening within the range of ₹880 to ₹900 per share. Conversely, a more cautious market mood might lead to a listing around ₹850 to ₹860 per share.
Vaibhav Kaushik, a Research Analyst at GCL Broking, expresses his perspective on the matter, stating, "We are anticipating a moderate debut of Concord Biotech shares on Dalal Street. While the primary market has displayed robustness in the past months, the secondary market's recent sluggishness presents a challenge."
Highlighting the journey that Concord Biotech Limited may face post-listing, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart, observes, "Concord Biotech, a leading API company, possesses a strong track record. Yet, its global operations introduce intricate risks. Furthermore, the industry has encountered margin pressures lately. Worth noting is that this IPO was an Offer for Sale (OFS). These factors, coupled with the current market sentiment, may have impacted its subscription rate. Although it garnered 3.78 times subscription in the retail category, the response from QIBs was remarkable at 67.67 times."
Amidst these dynamics, market experts cast their predictions on the Concord Biotech IPO listing price. Vaibhav Kaushik of GCL Broking offers insights, "A positive market opening may result in Concord Biotech shares commencing trading within the ₹880 to ₹900 range. Alternatively, a subdued market launch might see the listing range at ₹850 to ₹860 per share."
What Signals the GMP?
In the grey market, where speculations are rife, the premium on Concord Biotech Limited's shares is marked at ₹126 today. This translates to a Grey Market Premium (GMP) for the Concord Biotech IPO of ₹126. This buzz within the grey market hints at a potential listing price of approximately ₹867 (comprising of ₹741 plus ₹126), marking a surge of around 17% compared to the Concord Biotech IPO's price range of ₹705 to ₹741 per equity share.