Concord Enviro Systems IPO Opens on December 19, 2024, Aiming to Raise ₹500.33 Crore
Company to Offer a Price Band of ₹665 to ₹701 per Share, with Retail Quota at 35%
IPO Proceeds to Fuel Growth and Technological Advancements in Water Treatment Solutions
BILKULONLINE
Ahmedabad, Dec 18: Concord Enviro Systems Limited, a leader in water and wastewater treatment solutions, has announced its Initial Public Offering (IPO) set to open on December 19, 2024. The IPO, a book-built issue, aims to raise approximately ₹500.33 crore, consisting of a fresh issue of ₹175 crore and an Offer for Sale (OFS) of 46,40,888 equity shares worth ₹325.33 crore.
The IPO will close on December 23, 2024, and the allotment will be finalized by December 24, 2024. The company is expected to list its shares on the NSE on December 27, 2024.
Price Band and Subscription Details
The price band for the IPO is set between ₹665 and ₹701 per share, with a minimum market lot of 21 shares, amounting to ₹14,721. Retail investors can apply for up to 13 lots (273 shares) for a total investment of ₹1,91,373. The issue will be divided into three categories: 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-Worth Individuals (HNIs).
Company Overview and Financials
Founded in July 1999, Concord Enviro specializes in water and wastewater reuse solutions using advanced zero-liquid discharge (ZLD) technology. The company has seen significant growth, with revenues increasing from ₹350.5 crore in 2023 to ₹512.27 crore in 2024. Profit also surged, reaching ₹41.44 crore in 2024 compared to ₹5.49 crore in 2023. This positive financial trajectory signals strong long-term growth potential for IPO investors.
Concord Enviro currently serves 353 domestic and 24 international customers, including industries like pharmaceuticals, chemicals, automotive, and textiles. It operates manufacturing facilities in Vasai, Maharashtra, and Sharjah, UAE, with a robust export presence in North America, Latin America, Africa, the Middle East, and Southeast Asia.
Use of Funds
The company plans to use the proceeds from the IPO to fuel its growth initiatives, including the development of new technologies and expansion into new markets. A portion of the funds will also support its innovative pay-per-use business model, which aligns its services with the actual needs of industries.
With a solid financial track record and a promising growth trajectory, Concord Enviro Systems’ IPO presents an attractive opportunity for long-term investors.
Key Dates
IPO Opening Date: December 19, 2024
IPO Closing Date: December 23, 2024
Allotment Date: December 24, 2024
Listing on NSE: December 27, 2024
The company is promoted by Prayas Goel and Prerak Goel. Investors are encouraged to apply for this IPO, keeping in mind the strong financials and the growth potential of the company.
