Concord Biotech IPO: What does GMP signal as focus shifts to listing date; Check key details here

livemint.com:

allotment was finalised on August 11, the focus now shifts to the IPO listing date. Concord Biotech share listing is expected to take place on August 18, Friday, on BSE and NSE. However, ahead of the listing, let us take a look at the Concord Biotech IPO GMP, or grey market premium.

Concord Biotech IPO GMP today is ₹121 per share, as per topsharebrokers.com. According to market observers, Concord Biotech shares are trading at a premium of ₹121 in the grey market today, which is ₹4 lower than the GMP of ₹125 on August 13. Market observers said that Concord Biotech IPO GMP today is ₹121, which means grey market is expecting that Concord Biotech IPO listing price would be around ₹862 ( ₹741 + ₹121), which is around 16.33% higher from Concord Biotech IPO price band fixed at ₹705 to ₹741 per equity share.

Also Read: Aeroflex Industries IPO price band fixed. GMP, other details you should know Concord Biotech IPO was subscribed 24.87 times in total at the end of the last day of the bidding process, which was August 8. Concord Biotech IPO’s retail category was booked 3.78 times, while the Non-Institutional Investors (NII) category was subscribed 16.99 times.

The quota for Qualified Institutional Investors was booked 67.67 times. Employees bid 24.48 times the allotted quota. The company had reserved 10,000 equity shares for its employees in the IPO and is offering them shares at a discount of ₹70 per share to the final offer price.