Concord Control Systems was incorporated on January 19, 2011. The company is primarily involved in the manufacturing and supply of coach-related and electrification products for Indian Railways and other Railway Contractors.
| Bidding Dates |
|---|
| 27 Sep 2022 - 29 Sep 2022 |
| Subscription |
|---|
| 202.21x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,10,000 | 1 | 1 | 2000 | 1.5 M | ₹53 - ₹55 | 73.27 % | ₹81.2 M - ₹84.3 M | DRHP DOC |
Concord Control IPO SUBSCRIPTION STATUS
29 Sep '22Concord Control IPO overall subscription rate was 202.21 times the total available shares
Concord Control IPO retail subscription rate was 423.7 times in the retail segment
Concord Control IPO non-institutional investor subscription rate was 307.4 times in the non-institutional investor category
Concord Control IPO Qualified Institutional Bidder subscription rate was 15.18 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
29 Sep 2022 (Day 3) | 423.7x | 307.4x | 15.18x |
28 Sep 2022 (Day 2) | 103.2x | 38.9x | 2.3x |
27 Sep 2022 (Day 1) | 24.68x | 4.95x | 0.4x |
Concord Control 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) |
| FY22 | 25.9 | 317.0 | 22.6 | 12.2 |
| FY21 | 14.3 | 175.3 | 4.9 | 1.2 |
| FY20 | 10.5 | 158.8 | 6.5 | 1.1 |
Concord Control IPO SUBSCRIPTION STATUS DETAILS
Concord Control had 1.5 M shares on offer
Concord Control IPO offer price was in the range ₹53 - ₹55
Concord Control IPO minimum Investment was ₹110000
Concord Control IPO issue size was ₹ 81.2 M - ₹ 84.3 M
Concord Control had a minimum lot size of 2000 Shares per application
Concord Control NUMBER OF SHARES ON OFFER
Concord Control IPO IMPORTANT DATES
| Issue Open Date | 27 Sep 2022 |
| Issue close Date | 29 Sep 2022 |
| Allotment Date | 04 Oct 2022 |
| Refund Date | 06 Oct 2022 |
| Demat Account Credit Date | 07 Oct 2022 |
| Listing Date | 10 Oct 2022 |
| Listing on Exchange(s) | BSE |
| Concord Control Allotment Status | Exchange |
Concord Control IPO subscription opened on 27 Sep 2022, and closed on 29 Sep 2022
IPO allotment for Concord Control was finalized on Tuesday, 04 Oct 2022
IPO listing for Concord Control was on BSE on Monday, 10 Oct 2022
Concord Control IPO LISTING GAINS
| Issue Price (adjusted) | 33.1 |
| Listing Open Price | 110.0 |
| Listing Close Price | 115.4 |
| Listing Gain% | 107.5% |
| Current Gain% | 7499.8% |
Concord Control 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 Control Systems Ltd. | 2517.8 | 1443.2 | 60.1 | 10 | 6.8 | 20.3 | 13.5 | 213.7 | 67 | 42.4 | 87.1 | 41.9 | 6 |
| KRN Heat Exchanger and Refrigeration Ltd. | 1208.4 | 7511 | 98.2 | 2.2 | 12.5 | 13.3 | 8.2 | 609.8 | 38.1 | 76.5 | 44.6 | 12.3 | 44.6 |
| Centum Electronics Ltd. | 3851.8 | 5684.9 | -110.6 | 0 | 4.6 | -13.6 | -3.6 | 968.6 | -16.8 | -46.7 | -1999.6 | -34.8 | -2567.5 |
| Cyient DLM Ltd. | 685.6 | 5442.1 | 66.3 | 3.7 | 4 | 7.2 | 4.5 | 1297.7 | -16 | 73.3 | 7.6 | 10.3 | 18.1 |
| Marine Electricals (India) Ltd. | 336.9 | 4659.1 | 79.8 | 1.5 | 5.3 | 11.8 | 6.6 | 893.2 | 14.5 | 58.4 | 51.9 | 4.2 | 51.9 |
| Hind Rectifiers Ltd. | 1310.2 | 4503.4 | 100.1 | 4.7 | 4.5 | 21.6 | 6.8 | 1000.8 | 52.4 | 45 | 21.3 | 13.1 | 21.3 |
Concord Control INFORMATION ON IPO ISSUE
About Concord Control
Concord Control Systems was incorporated on January 19, 2011. The company is primarily involved in the manufacturing and supply of coach-related and electrification products for Indian Railways and other Railway Contractors.
Object of the Issue
- To meet working capital requirements
- General corporate purpose.
- To meet issue expenses
Concord Control - PROMOTERS
| Name |
|---|
| Nitin Jain |
| Gaurav Lath |
Concord Control Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Concord Control Registrar to the Issue
Bigshare Services Private Limited
ipo@bigshareonline.comWebsite
Concord Control Strengths
Diversified range of products
The company offers a diverse range of products specifically designed for use in coaches of Indian Railways and on its broad gauge network
Quality assurance
The company has been accredited with the "ISO 9001:2015" Certification for its quality management system, issued by TÜV SÜD South Asia Private Limited
Experienced and qualified management
The company's experienced and qualified management team is led by promoter Nitin Jain, who holds a bachelor's degree in Engineering. Gaurav Lath, with over a decade of work experience, holds a PGDBM (Family Business)
Concord Control Risks
Dependent on Indian Railways
The business and revenues are significantly dependent on Indian Railways
Working capital requirements
The company's significant working capital requirements, if not met by sufficient cash flows from operations or borrowing, may materially and adversely affect its business, cash flows, and operations
IPO FAQs
Concord Control Systems Ltd. IPO listing opened at Rs 109.95 while the issue price was Rs 53.00 giving 107.45% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 33.13 giving 7499.76% gains since its IPO listing.
The promoters of the company are Nitin Jain and Gaurav Lath.
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 53.0 - 55.0.
The IPO application opens on Sep 27, 2022 and closes on Sep 29, 2022.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 110,000.0, the maximum value for this IPO is Rs 110,000.0.
This IPO will be allotted on Oct 04, 2022.
The refund will be credited to your account on Oct 06, 2022.
The allotted shares will be credited to your demat on Oct 07, 2022.
Concord Control Systems Ltd.’s shares listed on the stock exchanges on Oct 10, 2022.