Concord Enviro Systems is into Infrastructure Waste Water Treatment and is looking raise funds through Fresh Issue and Offer For Sale
Concord Enviro Systems IPO: Concord Enviro Systems Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 5 per share via initial public offering.
Promoters of Concord Enviro Systems are Prayas Goel and Prerak Goel and holds 60.93% stake in the company.
Key Details:
- Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 192.3 crores and an Offer for Sale of Up to 5,194,520 Equity Shares.
- Motilal Oswal Investment Advisors, Equirus Capital have been appointed as lead merchant bankers for the proposed IPO.
- It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.
- Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 192 Crs and offer-for-sale (OFS) of up to 5,194,520 equity shares by Promoters and Promoters group selling shareholders include 1) Prayas Goel, 2) Prerak Goel, 3) Pushpa Goel, 4) Nidhi Goel and 5) Namrata Goel who will offload upto 150,600 equity shares, Up to 150,500 Equity Shares, Up to 92,420 Equity Shares, Up to 31,500 Equity Shares and Up to 29,500 Equity Shares...
Objects of the issue:
1) Rs25 cr Investment in subsidiary Concord Enviro FZE (CEF) for capex requirements 2) Rs10.5 cr Investment in subsidiary Rochem Separation Systems for capex requirements , 3) Rs3.2 cr for capex in the company 4) Rs50 cr Debt repayment of subsidiary company CEF, 5) Rs20 cr working capita requirement of subsidiary company CE 6) Rs10 cr investment into JV Roserve Enviro Private Limited., 7) Rs33.5 cr investment into technology and other new initiatives and 8) General corporate purpose.
About Company:
Established in 1999, Concord Enviro Systems is provider of water and wastewater treatment and reuse solutions, including ZLD technology. It has in-house capabilities to develop solutions across the entire value chain including for designing, manufacturing, installing, and commissioning, O&M and digitalization solutions including IoT. Company is an integrated provider of wastewater treatment and ZLD solutions, with focus upon energy optimization and recovery helping industries achieve water conservation and sustainability goals. Company has presence into diverse regions with exports to countries in North America, Latin America, Africa, the Middle East, and Southeast Asia, serving 377 customers worldwide.
About Industry:
The global recycling and reuse wastewater market is projected to grow at a CAGR of 10.1%, increasing from US$ 30B in CY23 to US$ 48.6B in CY28. India, with a recycling and reuse market valued at US$ 235.5M (₹ 1,968 crore), is also advancing in this sector, focusing on sustainable water management solutions. The sector faces challenges such as outdated & inconsistent regulations across states, high costs for advanced technologies, and weak enforcement.
Source: SEBI, BSE, NSE, DRHP, Concord Enviro Systems, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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