Concord Enviro Systems IPO subscribed overall 10.67 times on the last day, while A retail quota was subscribed 5.56 times, QIB was subscribed 17.32 times, and NII quota subscribed by 14.2 times respectively.
Details About Concord Enviro Systems IPO
Concord Enviro Systems got approval from SEBI for an IPO of ₹500.33 crores to raise funds and maintain financial stability. The face value of each share was Rs 5 each. Moreover, the company has set up a price band between ₹665 to ₹701 per share. In this IPO total of 21 shares were available in 1 lot size for the minimum Retail category and for the maximum retail category 273 shares in 13 lot sizes. S-HNI (Min) has a total of 294 shares in 14 lot sizes, while B-HNI Minimum has a total of 1,428 shares available in 68 lot sizes.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum investment of ₹14,721 and maximum investment of ₹1,91,373.
- Small HNI (S-HNI): Minimum investment of ₹2,06,094.
- Big HNI (S-HNI): Minimum investment of ₹10,01,028.
Subscription duration of Concord Enviro Systems IPO
The opening date of Concord Enviro Systems IPO subscription was 19 December and the close date was 23 December. The Concord Enviro Systems IPO allotment was finalized on December 24 and the IPO listing is on December 27.
Funds Deployment of This Company
The company plans to use the money raised from the new shares for the following purposes:
- Use the funds in the Investment in the wholly owned Subsidiary, Concord Enviro FZE (“CEF”) for financing its capital expenditure requirements for the greenfield project to develop an assembly unit to assemble systems and plants for the treatment of water, and wastewater.
- Investment in our wholly owned Subsidiary, Rochem Separation Systems (India) Private Limited, for financing its capital expenditure requirements for the brownfield project to expand the manufacturing facilities, storage, and supporting activities (the “Vasai Project”).
- Funding capital expenditure requirements of the Company for the purchase of plant and machinery.
- Investment in our wholly owned Subsidiary, Concord Enviro FZE, for prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by Concord Enviro FZE.
- Investment in the wholly owned Subsidiary, Concord Enviro FZE, for funding working capital requirements of Concord Enviro FZE.
- Investment in the joint venture, Reserve Enviro Private Limited, to grow our pay-per-use/pay-as-you-treat business.
- Investment in technology and other growth initiatives to access new markets.
- The remaining funds will be used for General corporate purposes.
About Concord Enviro Systems IPO
Concord Enviro Systems Limited was founded in July 1999 and started a business of water provider and reuse of wastewater so that it could be used for other purposes with zero-liquid discharge (ZLD) technology to ensure water is no longer wastewater. Moreover, they believed in customer satisfaction and built long-term relationships in business. They have 353 national and 24 international customers including various industries such as pharmaceuticals, chemicals, food and beverage, defense and energy, automotive and auto ancillaries, steel, and textiles. Further, this company works in two countries with two manufacturing facilities one in Vasai, Maharashtra, India, and the other in Sharjah, UAE. It is noticeable that the company’s revenue has increased from 2022 to 2024 raising INR 329.37 crores to INR 496.86 crores and the net income of 2024 is also satisfactory INR 41.44 crores.
Concord Enviro Systems IPO Financial Background
In fiscal year 2024, The company reported revenue of ₹512.27 crores against ₹350.50 crore in 2023. The company reported a profit of ₹41.44 crores in 2024 against a profit of ₹5.49 crores in 2023.
