Concord Control Systems IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Aug 07, 2023Let’s have a detailed review of the company and analytics of the Concord Control Systems IPO release date, IPO offer price, subscription, Concord Control Systems Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs. 53 to Rs. 55 |
| Listing At | BSE SME |
| Min. Order Quantity | 2000 shares |
| Listing Date | Oct 10, 2022 |
| Offer for Sale | NA |
| Fresh Issue | Rs. 832 Lakh |
| IPO Size | Rs. 832 Lakh |
| Tick Size | 1 |
Concord Control Systems IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Concord Control Systems IPO – Summary
They are engaged in the business of manufacturing and supply of coach-related and electrification products for Indian Railways and other Railway Contractors. They manu
facture 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, and Tensile Testing Machine.
They are an approved vendor by Research Design and Standards Organisation (“RDSO”) to manufacture and supply these products for the Indian Railways.
The Promoter of this company is Mr Nitin Jain and Mr Gaurav Lath. The lead manager to the issue is HEM SECURITIES LIMITED, and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.
Concord Control Systems IPO Date
The opening of Concord Control Systems IPO will be on Sep 27, 2022 and the closing date Sep 29, 2022.
Concord Control Systems IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 27th Sept | 0.40x | 4.95x | 24.68x | 9.59x |
| 2nd Day – 28th Sept | 2.30x | 38.90x | 103.20x | 43.13x |
| 3rd Day – 29th Sept | 15.18x | 307.40x | 424.26x | 202.41x |
| Shares Offered or Net Issue | 716,000 | 216,000 | 502,000 | 1,434,000 |
The shares subscribed by the public will be updated here.
Concord Control Systems IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Concord Control Systems Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Oct 4, 2022 |
| Refunds Initiation | Oct 6, 2022 |
| Credit of Shares to Demat Account | Oct 7, 2022 |
| Share Listing Date | Oct 10, 2022 |
Concord Control Systems IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.53 to Rs.55.
Concord Control Systems IPO Equity Size
This Initial Public Issue of 15,12,000 Equity Shares of Rs.10 each for cash at a price of Rs.53 to Rs.55 per equity share aggregating to Rs. NA Lakh.
Concord Control Systems IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 14,34,000 Equity Shares of Rs.10/ each.
Issue Size: 15,12,000 Equity Shares of Rs.10 each, aggregating to Rs. 8.31 Lakh.
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Concord Control Systems IPO – Live Performance
The listing date of this IPO is Oct 10, 2022. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Concord Control Systems Share Price |
Concord Control Systems IPO Grey Market Premium
The Concord Control Systems Limited IPO Grey Market Premium price is Rs. 45, the Kostak rate is Rs X and the Subject to Sauda is Rs.50000
Concord Control Systems IPO – Company Overview
Their company started its operations in the year 2011 when they got approval to manufacture and supply battery chargers for the traction system of railway electrification.
Their company further expanded its business in manufacturing products fitted in coaches of Indian Railways in the year 2013 and got approved for Emergency Light Unit which is one of the most critical items of rolling stock application in coaches of Indian Railways for passenger safety.
Emergency Light Unit switches on automatically in case of power failure or in case of accidents. Thereafter in the year 2014, they successfully received RDSO approval for manufacturing and supply of Tensile Load Testing machines for Porcelain & Composite Insulators before the installation of electrical lines.
Eventually, their company got approval to Supply Brushless Dc Carriage Fans to Indian railways when it changed its technology of fans from normal DC to Brushless DC. Over the years their company has successfully developed and is supplying a wide range of products.
Concord Control Systems IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | |||
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Total Assets | 1467.22 | 1251.35 | 838.01 |
| *Total Revenue | 3173.54 | 1760.91 | 1589.25 |
| Total Expense | 2,825.10 | 1,573.67 | 1,443.01 |
| Profit After Tax | 258.99 | 143.21 | 104.57 |
Earnings per Equity Share (in Lakh)
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 6.17 | 3.41 | 2.49 |
Further, their PAT for the period ended on 31-Mar-22, 31-Mar-21, and 31-Mar-20 were Rs.258.99 Lakh, Rs. 143.21 Lakh, and Rs. 104.57 Lakh, respectively.
Concord Control Systems IPO – Promoters
The Promoter of this company is:
- Mr. Nitin Jain
- Mr. Gaurav Lath
List of Related Parties (Key Managerial Personnel)
- Mr. Govind Prasad Lath, Chairman and Non-Executive Director
- Mr. Nitin Jain, Joint Managing Director
- Mr. Gaurav Lath, Joint Managing Director
- Mrs. Mahima Jain, Non-Executive Director
- Mr. Harsh Sachdev, Independent Director
- Mr. Harsh Yadav, Independent Director
- Mr. Mayank Modi, Chief Financial Officer
- Lavisha Wadhwani, Company Secretary and Compliance Officer
Concord Control Systems IPO – Promoters Holding
- Pre Issue Share Holding -100%
- Pos Issue Share Holding – 73.53%
Concord Control Systems IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 15,12,000 Equity Shares aggregating up to Rs. 8.310 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 78,000 Equity Shares aggregating up to Rs.NA Lakh |
| Net Issue to the Public | Up to 14,34,000 Equity Shares aggregating up to Rs. NA Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 50% |
| Other than Retail Individual Investors | Not more than 50% |
| Equity Shares outstanding prior to the Issue | 42,00,000 Equity Shares |
| Equity Shares outstanding after the Issue | 57,12,000 Equity Shares |
Concord Control Systems IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. To meet working capital requirements.
2. General Corporate Purpose.
3. To meet issue expenses.
Concord Control Systems IPO – Business Strategy
- Continue to strengthen their existing product portfolio with attractive growth and profitability prospects
- Continue to leverage the Government’s policy and budget relating to their business
- Continue to strive for cost efficiency
- Attracting and retaining talented employees
- Focus on consistently meeting quality standards
Concord Control Systems IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- They offer a diversified range of products.
- Quality Assurance
- Long Standing Relationship with their customers
- Experienced and Qualified Management and Employee base
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar -22 | 6.17 | 34.35% | 17.95 |
| 31-Mar-21 | 3.41 | 28.91% | – |
| 31-Mar-20 | 6.17 | 29.83% | – |
Concord Control Systems IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Concord Control Systems Limited | 10 | – | 4.63 | 31.78% | 100.00 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Concord Control Systems IPO Lead Managers
| Lead Managers |
| HEM SECURITIES LIMITED 904, A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, India Tel. No.: +91- 022- 49060000; Fax No.: +91- 022- 22625991 Email: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com Website: www.hemsecurities.com Contact Person : Mr. Ajay Jain SEBI Regn. No. INM000010981 |
Concord Control Systems IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED Office No. S6-2, 6th Floor, Pinnacle Business Park, Mahakali Caves Road, Next to Ahura Centre. Andheri (East), Mumbai – 400 093Tel. No.: +91 22 6263 8200 Email:ipo@bigshareonline.com Website:www.bigshareonline.com Investor Grievance Email:investor@bigshareonline.com Contact Person: Babu Rapheal SEBI Registration No.: INR000001385 |
Concord Control Systems IPO – Other Details
- Statutory Auditor – M/s. Seth & Associates, Chartered Accountants,
- Legal Counsel to the Company – Vedanta Law Chambers
- Bankers to the Company –HDFC Bank Limited
Concord Control Systems IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Concord Control Systems Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Concord Control Systems IPO Review FAQs
Check out various FAQs related to Concord Control IPO:
What is the Issue Size of Concord Control IPO?
The Company is making an initial public offer of 1,512,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and the net issue.
What is the Price band of Concord Control IPO?
The price band for this particular IPO ranges between Rs. 53 to Rs.55. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Concord Control IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Sep 27, 2022, while the closing date is set at Sep 29, 2022.
What is the Concord Control IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Oct 4, 2022, refund initiation is on Oct 6, 2022, credit of shares is on Oct 7, 2022, and share listing date is on Oct 10, 2022.
What is the Concord Control IPO Listing Date?
Shares of this company shall be listed in the exchanges Oct 10, 2022. The date, when the listing would be done, is stagnant on Oct 10, 2022.
Who is the Registrar of Concord Control IPO?
One of the reputed registrars is managing the issue of this IPO, BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Concord Control IPO?
Here are the promoters of this IPO – Mr. Nitin Jain and Mr. Gaurav Lath. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is GMP of Concord Control IPO?
They have obtained the GMP of this IPO and it is Rs.45 Further insights of Kostak rate and subject to sauda or SS Rs. 50000 are as well included in this report.
Is Concord Control IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Concord Control Systems Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the period ended on 31-Mar-22, 31-Mar-21, and 31-Mar-20 were Rs.258.99 Lakh, Rs. 143.21 Lakh, and Rs. 104.57 Lakh, respectively.
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