India: Concord Biotech IPO facilitates Quadria Capital exit

Concord Biotech, a developer and manufacturer of select fermentation-based Active Pharmaceutical Ingredients (API) across immunosuppressants and oncology, has raised INR15.5bn (US$186m) via an IPO on India’s National Stock Exchange. The listing enabled Quadria Capital, one of Asia’s largest healthcare-focused private equity firms, to sell its entire 20% stake in the biopharmaceutical company. Based in Ahmedabad,…