Upcoming IPO: The initial public offering (IPO) of Concord Enviro Systems is set to open for bidding on December 19, in a price range of ₹665-701 per share. Investors can bid for a minimum of 21 equity shares and in multiples thereof. The issue will remain open till Monday, December 23.
Concord Enviro Systems IPO Details
The IPO comprises a fresh issue of ₹175 crore and an offer-for-sale (OFS) of up to 46.40 lakh equity shares, amounting to ₹325.32 crore, by its promoters and existing shareholders. At the upper end of the price band, the company aims to raise a total of ₹500.32 crore.
The proceeds from the fresh issue will be used to invest in the company’s wholly-owned subsidiaries and joint ventures, fund capital expenditure, enhance technology, support growth initiatives to expand into new markets, and for general corporate purposes. The anchor book for the IPO will open on Wednesday, December 18.
The IPO has allocated 50% of the net offer to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs), and 35% to retail investors.
Shares of Concord Enviro Systems are set to be listed on both the BSE and NSE on Friday, December 27.
About Concord Enviro Systems
Concord Enviro Systems, founded in 1999, is a global leader in water and wastewater treatment, offering innovative solutions such as zero-liquid discharge (ZLD) technology. The company provides end-to-end services across the entire value chain, including design, manufacturing, installation, operations and maintenance (O&M), and IoT-enabled digitalization.
Specialising in integrated wastewater treatment and ZLD solutions, Concord Enviro focuses on energy optimisation and recovery, helping industries achieve their water conservation and sustainability objectives. The company serves a global customer base of 377 clients, exporting its solutions to North America, Latin America, Africa, the Middle East, and Southeast Asia.
As of March 31, 2024, Concord Enviro Systems had provided services to 353 domestic and 24 international customers across sectors like pharmaceuticals, chemicals, food and beverages, defence, automotive, steel, and textiles. The company operates two manufacturing facilities, one in Vasai, India, and the other in Sharjah, UAE.
For the five months ended August 31, 2024, the company reported a net profit of ₹0.52 crore on revenue of ₹208.02 crore. For the financial year 2023-24, it posted a net profit of ₹41.44 crore with revenue of ₹512.27 crore.
Motilal Oswal Investment Advisors and Equirus Capital are acting as the book-running lead managers for the issue, while Link Intime India is the registrar.
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