Bookbuilding IPO | ₹8 Cr | Listed at BSE SME | Tue, Sep 27, 2022 - Thu, Sep 29, 2022
Concord Control Systems IPO is a book build issue of ₹8.32 crores. The issue is entirely a fresh issue of 0.15 crore shares of ₹8.32 crore.
Concord Control Systems IPO bidding started from Sep 27, 2022 and ended on Sep 29, 2022. The allotment for Concord Control Systems IPO was finalized on Oct 4, 2022. The shares got listed on BSE SME on Oct 10, 2022.
Concord Control Systems IPO price band is set at ₹55 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,10,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,20,000.
Hem Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Securities Ltd..
Refer to Concord Control Systems IPO RHP for detailed Information.
IPO Open
Tue, Sep 27, 2022
IPO Close
Thu, Sep 29, 2022
Issue Price
₹55 per share
Market Cap (Pre-IPO)
₹31.42 Cr
| IPO Date | 27 to 29 Sep, 2022 |
| Listed on | Mon, Oct 10, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹53 to ₹55 |
| Issue Price | ₹55 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 15,12,000 shares (agg. up to ₹8 Cr) |
| Reserved for Market Maker | 78,000 shares Hem Securities Ltd. (agg. up to ₹0.4290 Cr) |
| Fresh Issue (Ex Market Maker) | 14,34,000 shares (agg. up to ₹8 Cr) |
| Net Offered to Public | 14,34,000 shares (agg. up to ₹8 Cr) |
| Share Holding Pre Issue | 42,00,000 shares |
| Share Holding Post Issue | 57,12,000 shares |
| BSE Script Code | 543619 |
| ISIN | INE0N0J01014 |
Concord Control Systems IPO comprises a total issue size of 15,12,000 shares. The net offer to the public is 14,34,000 shares, after excluding 78,000 shares allotted on a firm basis. Of the Net offer 7,16,000 (49.93%) are allocated to QIB, 2,16,000 (15.06%) allocated to NII 5,02,000 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 7,16,000 | 49.93% | 47.35% |
| − Anchor Investor Shares Offered | 4,28,000 | 28.31% | |
| − QIB (Ex. Anchor) Shares Offered | 2,88,000 | 19.05% | |
| NII (HNI) Shares Offered | 2,16,000 | 15.06% | 14.29% |
| Retail Shares Offered | 5,02,000 | 35.01% | 33.20% |
| Firm Reservations | |||
| Market Maker Shares Offered | 78,000 | 5.16% | |
| Total Shares Offered | 15,12,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,10,000 |
| Retail (Max) | 1 | 2,000 | ₹1,10,000 |
| HNI (Min) | 2 | 4,000 | ₹2,20,000 |
Concord Control Systems IPO raises ₹2.35 crore from anchor investors. Concord Control Systems IPO Anchor bid date is September 26, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Sep 26, 2022 |
| Shares Offered | 4,28,000 |
| Anchor Portion (₹ Cr.) | 2.35 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Nov 3, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Jan 2, 2023 |
Incorporated in 2011, Concord Control Systems Limited is engaged in the business of manufacturing and supply of coach-related and electrification products for Indian Railways and other Railway Contractors. The company manufactures products required in railway coaches like Inter-Vehicular Coupler, Emergency Lighting System, Brushless DC carriage fan, Exhaust fans, Cable Jackets, Bellows etc. and products required in the electrification of coaches and broad gauge network of Indian Railways like Battery Charger 200 AH, Battery Charger 40 AH, Tensile Testing Machine.
Concord Control Systems Limited is an approved vendor by Research Design and Standards Organisation ("RDSO") to manufacture and supply these products for the Indian Railways.
Currently the company has two manufacturing units situated at Lucknow, Uttar Pradesh with a total size admeasuring over 1880 sq. Mtrs.
The key clients of the company include various zones of the Indian Railways like Eastern Railway, South Eastern Railway, South East Central Railway, Northern Railway, East Coast Railway, North Frontier Railway, East Central Railway, Central Organisation For Railway Electrification (CORE) and organizations like KEC International Limited, Larsen & Toubro Limited, Kalpataru Power Transmission Ltd., Rail Vikas Nigam Limited, Fedders Lloyd Corporation Limited, Tata Projects Limited and many more.
As per the Restated Consolidated Financial statements, the company's revenue from operations for the Financial year ended on March 31, 2022, 2021 and 2020 were Rs. 3144.69 lakhs, Rs. 1727.05 lakhs and Rs. 1558.48 lakhs.
| Period Ended | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 14.67 | 12.51 | 8.38 |
| Total Income | 31.74 | 17.61 | 15.89 |
| Profit After Tax | 2.59 | 1.43 | 1.05 |
| NET Worth | 7.54 | 4.95 | 3.51 |
| Reserves and Surplus | 7.34 | 4.75 | 3.30 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet working capital requirements | 7.00 |
| 2 | General Corporate Purpose | 0.49 |
| KPI | |
|---|---|
| ROE | 41.45 |
| ROCE | 43.74 |
| Debt/Equity | 0.42 |
| RoNW | 34.35 |
| PAT Margin | 8.17% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.17 | |
| P/E (x) | 12.14 | |
| Promoter Holding | 100% | 73.53% |
| Market Cap | ₹31.42 Cr. |
The Concord Control Systems IPO is subscribed 202.41 times on September 29, 2022 6:59:00 PM (Day 3). The public issue subscribed 424.26 times in the retail category, 15.18 times in the QIB category, and 307.4 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 15.18 | 7,16,000 | 1,08,72,000 |
| NII* | 307.4 | 2,16,000 | 6,63,98,000 |
| Retail | 424.26 | 5,02,000 | 21,29,80,000 |
| Total | 202.41 | 14,34,000 | 29,02,50,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead manager(s) fees including underwriting commission | 0.23 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.04 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.04 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.03 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Syndicate Member Commission, Brokerage, Processing Fees*, and Miscellaneous Expenses) | 0.46 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹55.00 |
| Open | ₹109.95 |
| Low | ₹109.95 |
| High | ₹115.40 |
| Last Trade | ₹115.40 |
Lead Manager Reports
Concord Control Systems IPO is a SME IPO of 15,12,000 equity shares of the face value of ₹10 aggregating up to ₹8 Crores. The issue is priced at ₹55 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Sep 27, 2022, and closes on Thu, Sep 29, 2022.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Concord Control Systems IPO using UPI as a payment gateway. Zerodha customers can apply in Concord Control Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Concord Control Systems IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Concord Control Systems IPO opens on Tue, Sep 27, 2022 and closes on Thu, Sep 29, 2022.
Concord Control Systems IPO lot size is 2000, and the minimum amount required for application is ₹1,10,000.
You can apply in Concord Control Systems IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Concord Control Systems IPO will be done on Tuesday, October 4, 2022, and the allotted shares will be credited to your demat account by Fri, Oct 7, 2022. Check the Concord Control Systems IPO allotment status.
The Concord Control Systems IPO listing date is on Mon, Oct 10, 2022.
