Concord Enviro Systems Ltd. was incorporated on July 1, 1999. The company is an integrated solutions provider of industrial wastewater reuse and zero liquid discharge solutions, with an in-house position across the value chain including design, component manufacturing, installation and commissioning, and operation and maintenance including digitalization solutions including Internet of Things technology for analysis of customer data
| Bidding Dates |
|---|
| 19 Dec 2024 - 23 Dec 2024 |
| Subscription |
|---|
| 10.67x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,965 | 1 | 13 | 21 | 7.1 M | ₹665 - ₹701 | 51.39 % | ₹4746.3 M - ₹5003.3 M | RHP DOC |
Concord Enviro Systems Ltd. IPO SUBSCRIPTION STATUS
23 Dec '24Concord Enviro Systems Ltd. IPO overall subscription rate was 10.67 times the total available shares
Concord Enviro Systems Ltd. IPO retail subscription rate was 5.56 times in the retail segment
Concord Enviro Systems Ltd. IPO non-institutional investor subscription rate was 14.2 times in the non-institutional investor category
Concord Enviro Systems Ltd. IPO Qualified Institutional Bidder subscription rate was 17.32 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
23 Dec 2024 (Day 3) | 5.56x | 14.2x | 17.32x |
20 Dec 2024 (Day 2) | 2.01x | 1.01x | 0.01x |
19 Dec 2024 (Day 1) | 1.02x | 0.35x | 0x |
Concord Enviro Systems Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 5MFY25 | 5.2 | 2,061.7 | -50.8 | -168.6 | 7.3% |
| FY24 | 414.4 | 4,968.6 | -346.7 | -439.4 | 16.3% |
| FY23 | 54.9 | 3,432.2 | 1,173.6 | 1,125.0 | 14.5% |
| FY22 | 164.8 | 3,293.7 | 490.3 | 211.7 | 18.7% |
Concord Enviro Systems Ltd. IPO SUBSCRIPTION STATUS DETAILS
Concord Enviro Systems Ltd. had 7.1 M shares on offer
Concord Enviro Systems Ltd. IPO offer price was in the range ₹665 - ₹701
Concord Enviro Systems Ltd. IPO minimum Investment was ₹13965
Concord Enviro Systems Ltd. IPO issue size was ₹ 4746.3 M - ₹ 5003.3 M
Concord Enviro Systems Ltd. had a minimum lot size of 21 Shares per application
Concord Enviro Systems Ltd. NUMBER OF SHARES ON OFFER
Concord Enviro Systems Ltd. IPO IMPORTANT DATES
| Issue Open Date | 19 Dec 2024 |
| Issue close Date | 23 Dec 2024 |
| Allotment Date | 24 Dec 2024 |
| Refund Date | 26 Dec 2024 |
| Demat Account Credit Date | 26 Dec 2024 |
| Listing Date | 27 Dec 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Concord Enviro Systems Ltd. Allotment Status | Exchange |
Concord Enviro Systems Ltd. IPO subscription opened on 19 Dec 2024, and closed on 23 Dec 2024
IPO allotment for Concord Enviro Systems Ltd. was finalized on Tuesday, 24 Dec 2024
IPO listing for Concord Enviro Systems Ltd. was on NSE and BSE on Friday, 27 Dec 2024
Concord Enviro Systems Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 701.0 |
| Listing Open Price | 826.0 |
| Listing Close Price | 827.1 |
| Listing Gain% | 17.8% |
| Current Gain% | -60.6% |
Concord Enviro Systems Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Concord Enviro Systems Ltd. | 276 | 571.1 | 39.1 | -0.5 | 1 | 3.4 | 2.1 | 585.7 | -2.3 | 19.8 | -61.6 | 7 | -71.7 |
| EMS Ltd. | 404.4 | 2245.7 | 24.8 | -0.5 | 3.1 | 8.6 | 6.8 | 745 | -24.1 | 90.5 | -50.7 | 16.3 | -50.8 |
| Antony Waste Handling Cell Ltd. | 415.8 | 1180 | 15.6 | -1.3 | 1.1 | 10.2 | 4.3 | 1084.1 | 13.1 | 75.4 | -11.6 | 26.6 | -11.6 |
| Eco Recycling Ltd. | 498.4 | 961.8 | 41.5 | 73.6 | 20 | 20.9 | 17.2 | 52.8 | 14.1 | 23.1 | -64.9 | 12 | 0.6 |
| Hi-Green Carbon Ltd. | 139 | 347.2 | 101.2 | 3.8 | 2 | 141.3 | 43 | 3.4 | -69.2 | 1.4 | |||
| Race Eco Chain Ltd. | 108.8 | 187.7 | 27.7 | -4.6 | 0.3 | 9.1 | 3.1 | 620.4 | 11.6 | 6.8 | 73.8 | 3.9 | -6.1 |
Concord Enviro Systems Ltd. IPO Reports
Concord Enviro Systems Ltd. INFORMATION ON IPO ISSUE
About Concord Enviro Systems Ltd.
Concord Enviro Systems Ltd. was incorporated on July 1, 1999. The company is an integrated solutions provider of industrial wastewater reuse and zero liquid discharge solutions, with an in-house position across the value chain including design, component manufacturing, installation and commissioning, and operation and maintenance including digitalization solutions including Internet of Things technology for analysis of customer data
Object of the Issue
- Investment in the material subsidiary, Concord Enviro FZE, to finance the construction of an assembly unit in the Sharjah International Airport Free Zone
- Investment in the material subsidiary, Rochem Separation Systems (India) for funding its working capital requirements
- Investment in the material subsidiary, CEF for funding its working capital requirements
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the material subsidiaries namely, RSSPL, Blue Water Trading and Treatment FZE, and CEF
- General corporate purposes
Concord Enviro Systems Ltd. - PROMOTERS
| Name |
|---|
| Prayas Goel |
| Prerak Goel |
Concord Enviro Systems Ltd. Book Running Lead Managers
Motilal Oswal Investment Advisors Limited
concordipo@motilaloswal.com
Equirus Capital Private Limited
concordenviro.ipo@equirus.com
Concord Enviro Systems Ltd. Registrar to the Issue
Link Intime India Private Limited
concordenviro.ipo@linkintime.co.in
Concord Enviro Systems Ltd. Strengths
Integrated solutions provider
The company designs, manufactures, installs, operates, and maintains industrial wastewater reuse and ZLD solutions, offering integrated systems with in-house designed membranes, systems, and plants
Diversified customer base
The company serves a diverse customer base, with 289 domestic and 21 international clients as of August 31, 2024. Its wastewater treatment products and services cater to industries like pharmaceuticals, chemicals, food and beverage, defense, automotive, steel, and textiles
Strong focus on innovation
The company is involved in R&D to develop new membranes, enhance module designs, and create advanced technologies and systems for specific industries
Experienced promoters
The company is led by a skilled and experienced management team with the expertise and vision to drive business growth and support sustainability goals
Concord Enviro Systems Ltd. Risks
Fluctuations in contracts
The company's order book may be adjusted, cancelled, or suspended by customers, meaning it does not guarantee future revenue or profit. As of August 31, 2024, the total order book was Rs 5,017.5 million, with Rs 4,631.9 million for FY24, but actual income may be lower, impacting operations
Approvals and licenses
The company requires various regulatory approvals and licenses to operate. Failure to obtain, renew, or comply with these approvals and licenses could negatively impact business continuity and hinder future operations
Environmental and health safety regulations
The company's operations are subject to environmental and health safety regulations. Non-compliance or incidents may result in significant costs, liabilities, or damage, adversely affecting its reputation, business, finances, and operations
Working capital intensive
The business requires substantial working capital for daily operations, raw material procurement, and production. The inability to meet working capital needs may negatively impact the cash flow cycle
IPO FAQs
This IPO consists of an offer for sale of up to Rs 325.3 crore, of 4,640,888 shares. It also consists of a fresh issue of Rs 175.0 crore.
The promoters of the company are Prayas Goel and Prerak Goel.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 665.0 - 701.0.
The IPO application opens on Dec 19, 2024 and closes on Dec 23, 2024.
The minimum lot size for the IPO is 21. The maximum lot size for the IPO is 273.
For all category investors, the minimum application amount for this IPO is Rs. 13,965.0, the maximum value for this IPO is Rs 191,373.0.
This IPO will be allotted on Dec 24, 2024.
The refund will be credited to your account on Dec 26, 2024.
The allotted shares will be credited to your demat on Dec 26, 2024.
Concord Enviro Systems Ltd.’s shares listed on the stock exchanges on Dec 27, 2024.