Concord Enviro Systems IPO Opens Tomorrow, Check Price Band And Other Details Here

The firm’s maiden listing comprises a fresh issue of Rs 175 crore and an OFS component of up to Rs 46.40 lakh equity shares, coming up to Rs 325.32 crore by its promoters and existing shareholders

The issue has been priced in the range of Rs 665-701 apiece. Investors can place their bids for a minimum lot size of 21 equity shares and in multiples of thereafter.

Source : Fisdom

Concord Enviro Systems is set to open its maiden public offering for bidding on December 19, 2024. The firm’s initial public offering (IPO) will remain open for subscription for investors till December 23, 2024.

The firm’s maiden listing comprises a fresh issue of Rs 175 crore and an offer-for-sale (OFS) component of up to Rs 46.40 lakh equity shares, coming up to Rs 325.32 crore by its promoters and existing shareholders.

The issue has been priced in the range of Rs 665-701 apiece. Investors can place their bids for a minimum lot size of 21 equity shares and in multiples of thereafter.

The company intends to raise Rs 500.32 crore from the issue at the upper end of the price band. The proceeds raised would be utilised for investment in the firm’s wholly owned subsidiaries and joint ventures. Further, funds will be set aside for enhancing technology, supporting growth and expansion initiatives, financing capital expenditure, and for general corporate purposes.

The anchor book for the issue would open on December 18, 2024. The issue has been reserved 50 per cent for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs), and 35 per cent for retail investors.

The firm’s shares will make their debut in the stock market on December 27, 2024. 

The book-running lead managers of the issue include Equirus Capital and Motilal Oswal Investment Advisors, while Link Intime India is the registrar

For the five months ended August 31, 2024, the firm clocked a net profit of Rs 0.52 crore and a revenue of Rs 208.02 crore. Comparatively, for the 2023-24 fiscal year, it reported a net profit of Rs 41.44 crore and revenue of Rs 512.27 crore.

Founded in 1999, Concord Enviro Systems provided end-to-end water and wastewater treatment services. The firm focuses on the entire value chain including design, manufacturing, installation, operations and maintenance (O&M), IoT-enabled digitalisation/

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