Concord Enviro Systems IPO opens on December 19; check all details here

The initial public offering (IPO) of Concord Enviro Systems opens for bidding on December 19. The company shall be offering its shares in the range of Rs 665-701 per share. Investors can apply for a minimum of 21 equity shares and its multiples thereafter. The issue will close for bidding on Monday, December 23.

Incorporated in 1999, Concord Enviro Systems is a global water and wastewater treatment and reuse solutions provider, including zero-liquid discharge (ZLD) technology. The company offers in-house solutions across the entire value chain, including design, manufacturing, installation, operation and maintenance (O&M), and digitalization, such as IoT.

The IPO of Concord Enviro Systems includes a fresh share sale of Rs 175 crore and an offer-for-sale (OFS) of up to 46,40,888 equity shares amounting to Rs 325.32 crore from its promoters and existing shareholders of the company. At the upper end of the price band, Concord Enviro Systems is looking to raise Rs 500.32 crore via IPO.

The net proceeds from the fresh issue shall be utilized towards investments in various wholly-owned subsidiaries of the company; investment in the joint venture; funding capital expenditure requirements; investment in technology and growth initiatives to access new markets; and general corporate purposes. Anchor book for the issue opens on Wednesday, December 18.

Concord Enviro Systems provides integrated wastewater treatment and ZLD solutions, focusing on energy optimization and recovery to aid industries in achieving water conservation and sustainability goals. It exports its solutions to North America, Latin America, Africa, the Middle East and Southeast Asia and has a large customer base of 377 customers worldwide.

As of March 31, 2024, the company has served over 353 domestic and 24 international customers in pharmaceuticals, chemicals, food and beverage, defence, automotive, steel, and textiles, with a presence in two countries. It has two manufacturing facilities: one in Vasai, India, and another in Sharjah, UAE.

For the five months ended on August 31, 2024, Concord Enviro Systems reported a net profit of Rs 0.52 crore with a revenue of Rs 208.02 crore. The company reported a net profit of Rs 41.44 crore with a revenue of Rs 512.27 crore for the financial year 2023-24.

Concord Enviro Systems has reserved 50 per cent of the net offer for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will have 15 per cent of the net offer. Retail investors will have 35 per cent of the allocation in the IPO.

Motilal Oswal Investment Advisors and Equirus Capital are the book running lead managers of the Concord Enviro Systems-IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE on December 27, Friday.