In today’s briefing:
- Concord Biotech IPO – Peer Comparison & Valuation – Smaller in Scale but Wider in Margins
- Weekly Wrap – 04 Aug 2023
- Indian Deeptech Startup Ethereal Machines Raises $7.3m
Concord Biotech IPO – Peer Comparison & Valuation – Smaller in Scale but Wider in Margins
- Concord Biotech Ltd (658823Z IN) is looking to raise around US$188m in its India IPO.
- Concord Biotech (Concord) is an India-based biopharma firm, which develops and manufactures fermentation-based active pharmaceutical ingredients (APIs).
- In this note, we will undertake a peer comparison, and share our thoughts on valuation.
Weekly Wrap – 04 Aug 2023
Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
and more…
Indian Deeptech Startup Ethereal Machines Raises $7.3m
- Investors such as Peak XV’s Surge, Blume Ventures, and Mathew Cyriac, former head of Blackstone India, have backed the US$7.3 million round of India-based Ethereal Machines.
- Based in Bangalore, Ethereal Machines uses proprietary Computer Numerical Control machines, such as drills and mills, to produce precision engineering components for aerospace, automobile, and healthcare use.
- The company said that its offerings reduce costs by 30% and production lead times by 40%.
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