Bookbuilding IPO | ₹500 Cr | Listed at BSE, NSE | Thu, Dec 19, 2024 - Mon, Dec 23, 2024
Concord Enviro Systems IPO is a book build issue of ₹500.33 crores. The issue is a combination of fresh issue of 0.25 crore shares aggregating to ₹175.00 crores and offer for sale of 0.46 crore shares aggregating to ₹325.33 crores.
Concord Enviro Systems IPO bidding started from Dec 19, 2024 and ended on Dec 23, 2024. The allotment for Concord Enviro Systems IPO was finalized on Dec 24, 2024. The shares got listed on BSE, NSE on Dec 27, 2024.
Concord Enviro Systems IPO price band is set at ₹701 per share. The lot size for an application is 21. The minimum amount of investment required by an retail is ₹14,721 (21 shares) (based on upper price). The lot size investment for sNII is 14 lots (294 shares), amounting to ₹2,06,094, and for bNII, it is 68 lots (1,428 shares), amounting to ₹10,01,028.
Motilal Oswal Investment Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Concord Enviro Systems IPO RHP for detailed Information.
IPO Open
Thu, Dec 19, 2024
IPO Close
Mon, Dec 23, 2024
Issue Price
₹701 per share
Market Cap (Pre-IPO)
₹1,450.81 Cr
| IPO Date | 19 to 23 Dec, 2024 |
| Listed on | Fri, Dec 27, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹665 to ₹701 |
| Issue Price | ₹701 per share |
| Lot Size | 21 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 71,37,321 shares (agg. up to ₹500 Cr) |
| Fresh Issue | 24,96,433 shares (agg. up to ₹175 Cr) |
| Offer for Sale | 46,40,888 shares of ₹5 (agg. up to ₹325 Cr) |
| Share Holding Pre Issue | 1,81,99,800 shares |
| Share Holding Post Issue | 2,06,96,233 shares |
| BSE Script Code / NSE Symbol | 544315 / CEWATER |
| ISIN | INE037Z01029 |
Concord Enviro Systems IPO offers total 71,37,321 shares. Out of which 35,68,659 (50.00%) allocated to QIB, 14,27,464 (20.00%) allocated to QIB (Ex- Anchor), 10,70,599 (15.00%) allocated to NII 24,98,063 (35.00%) allocated to RII and 21,41,195 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 35,68,659 (50.00%) | NA |
| − Anchor Investor Shares Offered | 21,41,195 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 14,27,464 (20.00%) | NA |
| NII (HNI) Shares Offered | 10,70,599 (15.00%) | NA |
| − bNII > ₹10L | 7,13,732 (10.00%) | 2,427 |
| − sNII < ₹10L | 3,56,867 (5.00%) | 1,213 |
| Retail Shares Offered | 24,98,063 (35.00%) | 1,18,955 |
| Total Shares Offered | 71,37,321 (100.00%) |
Investors can bid for a minimum of 21 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 21 | ₹14,721 |
| Retail (Max) | 13 | 273 | ₹1,91,373 |
| S-HNI (Min) | 14 | 294 | ₹2,06,094 |
| S-HNI (Max) | 67 | 1,407 | ₹9,86,307 |
| B-HNI (Min) | 68 | 1,428 | ₹10,01,028 |
Concord Enviro Systems IPO raises ₹150.10 crore from anchor investors. Concord Enviro Systems IPO Anchor bid date is December 18, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Dec 18, 2024 |
| Shares Offered | 21,41,195 |
| Anchor Portion (₹ Cr.) | 150.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Jan 22, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Mar 23, 2025 |
Founded in July 1999, Concord Enviro Systems Limited 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 company provides integrated wastewater treatment and zero liquid discharge (ZLD) solutions, focusing on energy optimization and recovery to aid industries in achieving water conservation and sustainability goals.
The company's business can be segregated into the following:-
As of March 31, 2024, the company 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 FY 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.
The company's clients include Diageo Mexico Operaciones, S.A. De C.V., Grasim Industries Limited, AB Mauri, Anthem Biosciences Private Limited, Bhopal Glues and Chemicals Private Limited, Kasyap Sweetners Private Limited, LANXESS India Private Limited, Puja Spintex Private Limited, SFC Environmental Technologies Private Limited, SMS Limited and Tagros Chemicals India Private Limited. Furthermore, the company currently executes projects for multinational companies like Diageo Mexico Operaciones, S.A. De C.V.that include implementing a ZLD solution for their distillery in La Barca, Jalisco, Mexico and a ZLD solution for another customer at their factory in New York, United States of America.
The company has two manufacturing facilities: one in Vasai, India, and another in Sharjah, UAE. Their in-house R&D team, comprising 21 employees as of March 31, 2024, develops the solutions.
| Period Ended | 31 Aug 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 640.09 | 627.68 | 592.22 | 536.90 |
| Total Income | 208.02 | 512.27 | 350.50 | 337.57 |
| Profit After Tax | 0.52 | 41.44 | 5.49 | 16.48 |
| NET Worth | 319.71 | 320.82 | 279.23 | 266.81 |
| Reserves and Surplus | 300.59 | 303.09 | 258.64 | 261.12 |
| Total Borrowing | 167.53 | 153.19 | 131.06 | 125.76 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in the wholly owned Subsidiary, CEF for financing its capital expenditure requirements for the greenfield project to develop an assembly unit to assemble systems and plants for treatment of water, waste water and related membrane modules | 25.00 |
| 2 | Investment in the wholly owned Subsidiary, Rochem Separation Systems (India) Private Limited (“RSSPL”) for financing its capital expenditure requirements for the brown field project to expand the manufacturing facilities, storage and supporting activities | 10.51 |
| 3 | Funding capital expenditure requirements of the Company for purchase of plant and machinery | 3.21 |
| 4 | Investment in the wholly owned Subsidiary, Concord Enviro FZE for prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by CEF | 50.00 |
| 5 | Investment in the wholly owned Subsidiary, CEF, for funding working capital requirements of CEF | 20.00 |
| 6 | Investment in the joint venture, Roserve Enviro Private Limited to grow the pay per use/pay as you treat business | 10.00 |
| 7 | Investment in technology and other growth initiatives for access to new markets^ | 23.50 |
| 8 | General Corporate Purposes | 20.68 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 13.73% |
| ROCE | 14.07% |
| Debt/Equity | 0.47 |
| RoNW | 12.92% |
| PAT Margin | 8.34% |
| Price to Book Value | 3.96 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 22.77 | 0.60 |
| P/E (x) | 30.79 | 1171.52 |
| Promoter Holding | 60.93% | 51.39% |
| Market Cap | ₹1,450.81 Cr. |
The Concord Enviro IPO is subscribed 10.67 times on December 23, 2024 6:19:14 PM (Day 3). The public issue subscribed 5.56 times in the retail category, 17.32 times in the QIB category, and 14.2 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 17.32 | 13,79,122 | 2,38,82,166 |
| NII | 14.2 | 10,90,870 | 1,54,88,340 |
| bNII (bids above ₹10L) | 14.09 | 7,27,247 | 1,02,48,252 |
| sNII (bids below ₹10L) | 14.41 | 3,63,623 | 52,40,088 |
| Retail | 5.56 | 25,45,364 | 1,41,62,841 |
| Total | 10.67 | 50,15,356 | 5,35,33,347 |
Total Application : 6,04,657
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission) | 17.14 |
| 2 | Commission/ processing fee for SCSBs and Bankers to the Offer and fees payable to the Sponsor Bank(s) for Bids made by UPI Bidders. Brokerage, selling commission and bidding charges for the members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.95 |
| 3 | Fees payable to Registrar to the Offer | 0.16 |
| 4 | Fees payable to the parties to the Offer | 6.01 |
| 5 | Others: Listing fees, SEBI fees, BSE and NSE processing fees, book-building software fees, and other regulatory expenses | 4.78 |
| 6 | Printing and stationery expenses | 1.25 |
| 7 | Advertising and marketing expenses | 3.36 |
| 8 | Miscellaneous | 1.66 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹701.00 | ₹701.00 |
| Open | ₹832.00 | ₹826.00 |
| Low | ₹800.50 | ₹801.00 |
| High | ₹859.95 | ₹860.00 |
| Last Trade | ₹828.45 | ₹827.10 |
Lead Manager Reports
Concord Enviro Systems IPO is a main-board IPO of 71,37,321 equity shares of the face value of ₹5 aggregating up to ₹500 Crores. The issue is priced at ₹701 per share. The minimum order quantity is 21.
The IPO opens on Thu, Dec 19, 2024, and closes on Mon, Dec 23, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Concord Enviro Systems IPO using UPI as a payment gateway. Zerodha customers can apply in Concord Enviro Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Concord Enviro Systems IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Concord Enviro Systems IPO opens on Thu, Dec 19, 2024 and closes on Mon, Dec 23, 2024.
Concord Enviro Systems IPO lot size is 21, and the minimum amount required for application is ₹14,721.
You can apply in Concord Enviro 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 Enviro Systems IPO will be done on Tuesday, December 24, 2024, and the allotted shares will be credited to your demat account by Thu, Dec 26, 2024. Check the Concord Enviro Systems IPO allotment status.
The Concord Enviro Systems IPO listing date is on Fri, Dec 27, 2024.
