Concord Biotech IPO: What does GMP signal as focus shifts to allotment; check key details here
IPO subscription status can be seen as the issue received total bids for 36.42 crore equity shares as against 1.46 crore shares on the offer. The finalisation of Concord Biotech IPO allotment is expected to take place on August 11, while refunds will be initiated on August 14. The shares will be credited to the demat accounts of eligible investors on August 17.
Concord Biotech share listing is expected to take place on August 18, on BSE and NSE. As the IPO subscription period ended, investors now focus on the Concord Biotech IPO GMP, or grey market premium. Concord Biotech IPO GMP today was ₹159, as per topsharebrokers.com.
According to market observers, Concord Biotech shares are trading at a premium of ₹159 in the grey market today, which is ₹6 higher than the GMP of ₹153 on Tuesday. Market observers said that Concord Biotech IPO GMP today is ₹159, which means grey market is expecting that Concord Biotech IPO listing price would be around ₹900 ( ₹741 + ₹159), which is around 22 higher from Concord Biotech IPO price band fixed at ₹705 to ₹741 per equity share. Also Read: Pyramid Technoplast IPO to open next week.
GMP, price, other details you may want to know As mentioned earlier, 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.
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