Concord Biotech is a biotechnology company and a leading maker of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on volume in 2022. The company is backed by Rakesh Jhunjhunwala's Rare Enterprises and another leading investment firm Quadria Capital Fund. Ahead of the listing, the company's shares commanded a premium of Rs 120 in the unlisted market.