Concord Enviro Systems IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 16, 2022Concord Enviro Systems Ltd. is gearing up to enter the IPO game and get its shares listed on the mainboard exchanges of India. The proposed Concord Enviro Systems IPO consists of a Fresh Issue of Equity Shares aggregating up to Rs. 175 crores and an Offer for Sale for 35,69,180 equity shares.
The equity shares in the share sale will be offered by the promoters and an early investor of the company.
With this Concord Enviro Systems IPO Review, you get an idea about this IPO and the related aspects. We will discuss the company’s background, products and services, promoters and management, financial standings, IPO dates, IPO GMP, IPO size and price, method, and other related areas.
| Face Value | Rs 5 |
| Price Band | Not Disclosed |
| Listing At | BSE, NSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Not Disclosed |
| Tick Size | 1 |
Concord Enviro Systems IPO Overview
Concord Enviro Systems IPO is a combination of a Fresh Issue and an Offer for Sale. The company has decided to bring its IPO to raise funds for investing in its material subsidiaries Concord Enviro FZE and Rochem Separation Systems (India) Private Limited. Also, the company will be repaying against debts availed by its subsidiaries, namely RSSPL, Blue Water Trading and Treatment FZE (“BWT”), and CEF.
As per the DRHP, the company might also consider a pre-IPO placement of shares for up to Rs. 35 crores before the filing of RHP with RoC.
Concord Enviro Systems IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
Along with Innova Captab and Global Surfaces, Concord Enviro Systems filed the Draft Red Herring Prospectus with SEBI in June 2022. The company is waiting for the observation letter from the authority stating a green light on the IPO launch.
Once the draft papers are approved, The Company will file the Red Herring Prospectus (RHP) with SEBI and RoC to obtain their approval and bring the IPO into the market. Concord Enviro Systems IPO Dates will also be declared with the RHP.
Concord Enviro Systems IPO Price, Size, Share Offerings
| Face Value | Rs.5 |
| Price Band | Not Disclosed |
| Offer for Sale | 35,69,180 Equity Shares |
| Fresh Issue | Rs. 175 crores |
| IPO Size | Not Disclosed |
Concord Enviro Systems is offering Fresh equity shares worth Rs. 175 crores and up to 3,569,180 equity shares of the selling shareholders in the proposed IPO. The Concord Enviro Systems IPO Size will comprise the net offer made to the public.
The Concord Enviro Systems IPO Price will arrive through the Book Building Process. The face value of the company’s shares is Rs. 5 each.
The offered shares are proposed to be listed on NSE and BSE.
Concord Enviro Systems IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
GM or Grey Market is a trading market prevalent in India highly. It assists investors, traders, and experts in estimating the possible share price of the shares to be listed on the stock exchange through IPO.
The shares are traded in this market before their listing through the IPO process. Another important factor of this marketplace is GMP (Grey Market Premium). It is the price of the share in this market. It fluctuates according to trading and market conditions.
Concord Enviro Systems IPO GMP will guide the traders in bidding for the shares in IPO.
Concord Enviro Systems IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – | |||||
| 2nd Day – | |||||
| 3rd Day – | |||||
| Shares Offered or Net Issue |
Subscription of an IPO means the step where the investors place their bids or ask for allotment of company shares.
The Concord Enviro Systems IPO Subscription will be reserved for different category investors in different proportions. There are three categories of investors, QIBs, NIIs, and Retail Investors.
For QIBS, – 75% of the offer will be reserved, whereas for Non-Institutional Investors, 15% of the offer will be reserved, and the remaining 10% will be reserved for the Retail Investors for the subscription.
Concord Enviro Systems IPO Allotment Status
The company will determine Concord Enviro Systems IPO Allotment basis in consultation with the Book Running Lead Managers as per the share applications received from the investors. And after that, the successful bidders in their respective Demat accounts will be allotment of shares.
The allotment process will be online, and shares will be allotted in physical form.
Concord Enviro Systems IPO Live Performance
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Concord Enviro Systems – Company Review
The company started its operations in 1999 as a private limited company, Concord Enviro Systems Private Limited. It has been over two decades since its incorporation, and it has made significant growth in this time.
The company was converted into a public limited in May 2022 to proceed with the IPO and list its securities. The company’s name was changed from Concord Enviro Systems Private Limited to Concord Enviro Systems Limited.
The company is an environmental engineering solutions entity that works for industrial waste water reuse and zero liquid discharge solutions.
Products or Services
Concord Enviro Systems Limited offers and caters to a gigantic daily issue we all face. The means how we can put water to reuse and not waste it. The company offers 100% Water Reuse Solutions from any source.
They promise Zero liquid discharge solutions with their energy-efficient designs.
They have a strong infrastructure and the right resources to help them achieve their virtuous goal.
Promoters and Holding
The Promoter of Concord Enviro Systems Limited is Prayas Goeland Prerak Goel.
The management of the company comprises:
- Prayas Goel, in the position of Chairman and Managing Director
- Prerak Goel, in the position of Executive Director
- Shiraz Homi Bugwadia, in the position of Independent Director
- Prakash Dharshibhai Shah, in the position of Independent Director
- Rajesh R. Pai, in the position of Non-Executive Nominee Director
- Kamal Sandeep Shanbhag, in the position of Independent Director
Is Concord Enviro Systems good for Investment?
The environmental engineering solutions company Concord Enviro Systems Limited has invested years and decades in searching and finding methods and modes to find ways of reusing water and saving it from waste. The company is actively involved in continuous research to help and find new means for doing the same.
With its integrated solutions for industrial waste water reuse and zero liquid discharge solutions, the company is attempting to make a difference and safeguard an important natural resource.
There are five continents where Concord Enviro Systems Limited has connected its solutions.
Concord Enviro Systems Financial Statements
| Amount (in INR & Million) | ||||
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Assets | 5,164.69 | 5,179.71 | 5,179.71 | 4,132.07 |
| Revenue | 2,216.45 | 3,528.03 | 3,850.44 | 3,000.93 |
| Expense | 2,205.00 | 3,302.25 | 3,725.70 | 2,780.76 |
| Profit After Tax | 30.26 | 198.12 | 78.60 | 158.52 |
Concord Enviro Systems Ltd. is a profit making entity and its financial records given in the DRHP document reflect the stats from the past few years. Let’s have a look at it thoroughly.
The company’s assets are worth Rs. 5,164.69 as on 31st December 2021.
The total revenue of the company for the years 2021, 2020, and 2019 were – Rs. 3,528.03 million, Rs. 3,850.44 million, and Rs. 3,000.93 million, respectively.
The profits of the company for the years 2021, 2020, and 2019 were – Rs. 198.12 million, Rs. 78.60 million, and Rs. 158.52 million, respectively.
The total income of the company for the nine months of 2021 ending 31st December 2021 was Rs. 2,216.45 million, and the profit for the same period was Rs. 30.26 million.
| Earnings per Equity Share (in Million) | ||||
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | 29.93 | 321.57 | 127.58 | 257.29 |
The EPS of Concord Enviro Systems Ltd. was Rs. 29.93 as of December 2021. And earlier to that, the EPS stood at Rs. 321.57 as of 31st March 2021.
Concord Enviro Systems IPO Review
Concord Enviro Systems IPO is a makeable footstep in the company’s journey. The company was private until 2021, and this year it has been converted to a public company and is now coming up with an IPO to raise funds.
The company will raise funds through a Fresh Issue and an Offer for Sale through the IPO. The Fresh Issue portion will be up to Rs. 175 crores, and in the offer for Sale, 3,569,180 Equity Shares will be offloaded by the selling shareholders.
The selling shareholders include promoters Prayas Goel and Prerak Goel, Promoter Group Namrata Goel, Nidhi Goel, and Pushpa Goel, and an investor entity AF Holdings.
The IPO will help the company invest in its subsidiary companies’ future plans, along with repaying outstanding debts availed by the subsidiaries.
Concord Enviro Systems IPO Details
Here are few more details you need to know before investing in Concord Enviro Systems IPO –
Concord Enviro Systems IPO Issue Object
The Concord Enviro Systems has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Investment in our Material Subsidiary, Concord Enviro FZE (“CEF”) in relation to financing the construction of an assembly unit (“Assembly Unit”) in Sharjah International Airport Free Zone;
- Investment in our Material Subsidiary, Rochem Separation Systems (India) Private Limited (“RSSPL”) for funding its working capital requirements;
- Investment in our Material Subsidiary, CEF for funding its working capital requirements;
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Material Subsidiaries namely, RSSPL, Blue Water Trading and Treatment FZE (“BWT”) and CEF; and
- General Corporate Purposes
Concord Enviro 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:
- Poised to capitalise on opportunities in wastewater reuse and zero liquid discharge;
- Integrated solutions provider supported by backward integrated manufacturing facilities;
- Diversified customer base across industry sectors and geographies;
- Strong focus on innovation supported by R&D and design capabilities;
- Healthy financial performance to support growth; and
- Experienced Promoters and management team.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 321.57 | (159.32) | (173.67) |
| 31-Mar-20 | 127.58 | (35.85) | – |
| Mar-19 | 257.29 | (43.12) | – |
Concord Enviro Systems IPO Lead Managers
Here are the list of Lead managers –
- DAM Capital Advisors Limited
- Equirus Capital Private Limited
Concord Enviro Systems IPO Registrar to offer
Check out the details of the registrar here –
Link Intime India Private Limited
Address – C 101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai 400083, Maharashtra, India
Tel: +91 22 4918 6200
E-mail: Concord Enviro Systems.ipo@linkintime.co.in
Website: www.linkintime.co.in
Investor grievance E-mail: Concord Enviro Systems.ipo@linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058
Concord Enviro Systems IPO – Other Details
- Statutory Auditor – M/s. Deloitte Haskins & Sells LLP
- Legal Counsel to the Company – Trilegal
- Bankers to the Company – ICICI Bank Limited
Concord Enviro Systems IPO – Conclusion
The Concord Enviro Systems IPO consists of multiple folds within. The IPO consists of both types of shares, i.e., fresh and existing shares of shareholders. Through the IPO, the company will be investing towards new developments and constructions alongside making debt payments.
The company operates in a critical segment, an element of life we all are connected to.
Therefore, investment in the company might turn out as a good opportunity for the investors in the long run, given the importance of the company’s operations.
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Concord Enviro Systems IPO Review FAQs
Check out the FAQs on Concord Enviro Systems IPO –
What is the Issue Size of Concord Enviro Systems IPO?
The Company is making an initial public offer of NA 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 net issue.
What is the Price band of Concord Enviro Systems IPO?
The price band for this particular IPO ranges between Rs.X to Rs.X. As far as the face value of the share is of concern, it is Rs.5 per share.
What is the Concord Enviro Systems IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Concord Enviro Systems IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Concord Enviro Systems IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Concord Enviro IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Concord Enviro IPO?
Here are the promoters of this IPO – Prayas Goeland Prerak Goel. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Concord Enviro Systems IPO?
They have obtained the GMP of this IPO and it is Rs. X. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Concord Enviro 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 Enviro 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 financial year 2021 in Million is 198.12, 2020 is 78.60, 2019 is 158.52. PAT from Dec 2021 is 30.26.
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