India's Concord Biotech up 23% in debut, valuing it at over $1 bln (updated)

Concord Biotech

18/08/2023 05:38

(Adds shares, benchmark indexes movement in paragraph 1, 3)
       BENGALURU, Aug 18 (Reuters) - Shares of Indian biopharma
company Concord Biotech  CONB.NS  climbed as much as 23.7% in
their market debut on Friday, valuing it at 95.92 billion rupees
($1.15 billion).
    The company, which makes active pharmaceutical ingredients,
the key biologically active elements in a drug, opened at 900.05
rupees compared with its initial public offer (IPO) price of 741
rupees.
    Indian benchmark indexes, the Nifty 50  .NSEI  and the S&P
BSE Sensex  .BSESN , were down 0.5% each as of 10:02 a.m. IST.  


($1 = 83.0800 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru; Editing by Janane
Venkatraman)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;
 +91 8095218099;))