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Concord Enviro IPO is a book-built issue of Rs 500.33 crores. The issue is a combination of a fresh issue of 0.25 crore shares aggregating to Rs 175.00 crores and an offer for sale of 0.46 crore shares aggregating to Rs 325.33 crores.
The IPO opens for subscription on December 19, 2024, and closes on December 23, 2024. The price band is set at ₹665 to ₹701 per share. The minimum lot size for an application is 21 shares.
Company Summary
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:-
- The manufacture and sale of water and wastewater treatment, reuse and ZLD of systems and plants and turnkey solutions.
- Operations and maintenance.
- The manufacture and sale of consumables and spare parts (including membranes, plants, chemicals and consumables).
- Installation of compressed biogas plants (“CBG Plants”).
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 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.
Company Strengths
- Market leadership in ZLD technology in India, well placed to harness global industry opportunities
- Integrated solutions provider supported by backward integrated manufacturing facilities
- Established presence in international markets
- Diversified customer base across multiple industries and geographies
Company Financials
| Period Ended | 31 Aug 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 640.09 | 627.68 | 592.22 | 536.9 |
| Revenue | 208.02 | 512.27 | 350.5 | 337.57 |
| Profit After Tax | 0.52 | 41.44 | 5.49 | 16.48 |
| Net Worth | 319.71 | 320.82 | 279.23 | 16.48 |
| Reserves and Surplus | 300.59 | 303.09 | 258.64 | 261.12 |
| Total Borrowing | 167.53 | 153.19 | 131.06 | 125.76 |
Amount in ₹ Crore | ||||
Objectives of the IPO
- Investment in the wholly owned Subsidiary, Concord Enviro FZE (“CEF”) for financing its capital expenditure requirements for the greenfield project to develop an assembly unit to assemble systems and plants for the treatment of water, wastewater, and related membrane modules (the “U.A.E Project”).
- Investment in our wholly owned Subsidiary, Rochem Separation Systems (India) Private Limited (“RSSPL”), for financing its capital expenditure requirements for the brownfield project to expand the manufacturing facilities, storage, and supporting activities (the “Vasai Project”).
- Funding capital expenditure requirements of the Company for the purchase of plant and machinery.
- Investment in our 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 Concord Enviro FZE.
- Investment in the wholly owned Subsidiary, Concord Enviro FZE, for funding working capital requirements of Concord Enviro FZE;
- Investment in the joint venture, Reserve Enviro Private Limited, to grow our pay-per-use/pay-as-you-treat business.
- Investment in technology and other growth initiatives to access new markets.
- General corporate purposes. (collectively, referred to herein as “Objects”).
Promoters of the company
1. Prayas Goel
2. Prerak Goel
The Promoters collectively hold 8,292,240 Equity Shares aggregating to 45.56% of the issued, subscribed, and paid-up Equity Share capital, of the Company.
IPO details
| IPO Date | December 19, 2024 to December 23, 2024 |
| Listing Date | Friday, December 27, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹665 to ₹701 per share |
| Lot Size | 21 Shares |
| Total Issue Size | 71,37,321 shares (aggregating up to ₹500.33 Cr) |
| Fresh Issue | 24,96,433 shares (aggregating up to ₹ 175.00 Cr) |
| Offer for Sale | 46,40,888 shares of ₹5 (aggregating up to ₹325.33 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| 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 | 1407 | ₹9,86,307 |
| B-HNI (Min) | 68 | 1428 | ₹10,01,028 |
Allocation Schedule
| Basis of Allotment | Tuesday, December 24, 2024 |
| Initiation of Refunds | Thursday, December 26, 2024 |
| The credit of Shares to Demat | Thursday, December 26, 2024 |
| Listing Date | Friday, December 27, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 23, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
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