Concord Enviro Systems Limited

LISTED

Mainboard IPO · IPO Guide

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Issue Price

₹665 – ₹701

Listed On

27 Dec 2024

Listing Price

₹826 (+17.83%)

Current Price LIVE

₹826 (+17.83%)

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Lot Size Calculator

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

Retail: ≤ ₹2L • S-HNI: ₹2L–₹10L • B-HNI: > ₹10L Cap Price: ₹701/sh

As per financials, Concord Enviro Systems Limited has shown good sales growth, RoNW is 12.92% and P/E is 264.41, 35.01 and 1171 respectively as per FY23, FY24 and annualised FY25 earnings. So issue looks fully priced when compared with peers, and net-profit is fluctuating. Company is in business of providing water and wastewater treatment and reuse solutions, including zero liquid discharge ('ZLD') technology, which is competitive business segment. So, we give NEUTRAL rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

Open Date	Dec 19, 2024
Close Date	Dec 23, 2024
Allotment Date	Dec 26, 2024
Listing Date	Dec 27, 2024
Face Value	₹ 5 Per Equity Share
Issue Price	₹ 665 to ₹ 701 Per Equity Share
Issue Size	Total Equity Shares of 71,37,321 with aggregating up to Rs 500.33/- Cr Fresh Issue of Up to 24,96,433 with aggregating up to Rs 175/- Cr Offer for sale Up to 46,40,888 with aggregating up to Rs 325.33/- Cr
Retail Min Lot	1 Lot (21 Shares - ₹ 14,721)
Retail Max Lot	13 Lots (273 Shares - ₹ 1,91,373)
S-HNI Min Lot	14 Lots (294 Shares - ₹ 2,06,094)
S-HNI Max Lot	67 Lots (1,407 Shares - ₹ 9,86,307)
B-HNI Min Lot	68 Lots (1,428 Shares - ₹ 10,01,028)
Allocation	QIB: 50% \| NII: 15% \| RII: 35%
Promoter Shareholding	60.93% (Pre-Issue) 51.39% (Post-Issue)
Registrar	KFin Technologies Limited
Lead Manager	DAM Capital Advisors Limited, ICICI Securities Limited

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
Concord Enviro Systems Limited Current	3.97	35.01	12.9%	512
Praj Industries Limited	11.6	54.1	23.3%	3,363
Ion Exchange (India) Limited	9.52	48.5	21.1%	2,548
Triveni Engineering and Industries Limited	3.56	33.0	14.2%	5,405
Va Tech Wabag Limited	5.29	40.0	13.8%	2,965
Thermax Limited	12.0	87.4	14.2%	9,884

Offer for Sale

1
(a) Sell upto 46,40,888 equity shares (Rs 325.33/- Cr) of the selling shareholders of the company.

Fresh Issue

1
(a) 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 treatment of water, waste water and related membrane modules (the 'U.A.E Project'). ( Rs 25/- Cr )
2
(b) 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 (the 'Vasai Project'). ( Rs 10.5/- Cr )
3
(c) Funding capital expenditure requirements of the Company for purchase of plant and machinery. ( Rs 3.21/- Cr )
4
(d) 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 Concord Enviro FZE. ( Rs 50/- Cr )
5
(e) Investment in the wholly owned Subsidiary, CEF, for funding working capital requirements of CEF. ( Rs 20/- Cr )
6
(f) Investment in the joint venture, Roserve Enviro Private Limited to grow the pay per use/pay as you treat business. ( Rs 10/- Cr )
7
(g) Investment in technology and other growth initiatives for access to new markets. ( Rs 23.5/- Cr )
8
(h) General corporate purposes
9
(i) Offer related expenses.

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

5 Comments

V
vish 26 Dec 2024, 23:17

hold long term
A
Agvan Sajit 25 Dec 2024, 18:39

Neel Bhai hold or sell?
H
hardik 25 Dec 2024, 01:29

allotment out
H
HEBBAL HANUMESH 20 Dec 2024, 16:59

25%
S
sanjay 19 Dec 2024, 23:52

apply 25% gain

As on Date	QIB	NII	RII	Total
Shares Offered / Reserved	13,79,122	10,90,870	25,45,364	50,15,356
Day 1 19-12-24	588 (0)	3,84,888 (0.35)	25,94,109 (1.02)	29,79,585 (0.59)
Day 2 20-12-24	7,896 (0.01)	10,99,035 (1.01)	51,08,586 (2.01)	62,15,517 (1.24)

Period	Total Income	Total Expenses	Profit After Tax (PAT)
31.08.24 FY25	208.02	206.56	0.52
FY24	512.27	467.57	41.44
FY23	350.50	343.30	5.49
FY22	337.57	319.88	16.48

Concord Enviro Systems Limited

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