Concord Enviro Systems IPO subscribed 10.67 times on final day; steps to check allotment status online

Concord Enviro Systems Limited IPO allotment status is expected to be finalised on Tuesday, December 24. The investors who bid for the mainboard issue are now waiting for the company to finalise the share allotment status after the successful subscription.

The initial public offering of the wastewater treatment solutions provider was open for bidding from December 19 to December 23. The company aims to raise ₹500.33 crore from the primary market through the IPO.

The IPO was booked 10.67 times overall, with bids for over 5.35 crore shares compared to the 50.15 lakh shares on offer.

The Qualified institutional buyers (QIBs) led the demand, with bids for over 2.38 crore shares against 13.79 lakh shares reserved for them. The QIBs quota was booked 17.32 times.

The Non-Institutional Investors (NIIs) booked their category 14.2 times with bids for more than 1.54 crore shares against 10.9 lakh shares on offer. The retail portion of the IPO was booked 5.56 times. The retail investors applied for over 1.41 crore shares against the 25.45 lakh shares set aside for them.

Concord Enviro Systems Ltd had mobilised ₹150.1 crore in the anchor round.

The IPO investors can visit the websites of the NSE, BSE and issue registrar, Link Intime India Pvt Ltd, to check the share allotment status online.

• Go to Link Intime India website at https://www.linkintime.co.in/
• Click on Investor Services on the main menu and select ‘Public Issue’
• On the new page choose Concord Enviro Systems from the drop-down list for company names
• Enter your application number, PAN or DP/Client ID
• Click on 'submit' to check the allotment status

• Visit NSE IPO allotment status page here
• Enter your login details. The new users need to register on the NSE website to check the IPO allotment status
• Select Concord Enviro Systems from the list of issue names
• Fill in the application number and PAN details
• Click on 'submit'

The investors can also check Concord Enviro Systems IPO allotment status on the BSE website using their PAN and application number.

Concord Enviro Systems IPO key details

• Concord Enviro Systems IPO price band was fixed at ₹665 to ₹701 per share.
• The mainboard issue was a mix of fresh issuance of nearly 25 lakh shares, worth up to ₹175 crore, and an offer-for-sale (OFS) of 46 lakh shares, aggregating to ₹325.33 crore.
• The minimum lot size for retail investors is 21 shares, aggregating to an investment of ₹14,721 for at least a single lot.
• After the IPO allotment, on December 26, the company will initiate refunds and transfer shares to the demat accounts.
• Concord Enviro Systems shares will be listed on the BSE and the NSE. The IPO listing date has been tentatively fixed as December 27.
• Motilal Oswal Investment Advisors Ltd and Equirus Capital Private Ltd are the book-running lead managers of the Concord Enviro Systems IPO

About Concord Enviro Systems and use of IPO proceeds

Concord Enviro Systems has proposed to use the IPO funds to invest in wholly-owned subsidiary Concord Enviro FZE (CEF) for setting up a new assembly unit for water treatment systems, in addition to its working capital requirement.

A portion of the funds will also be invested in another subsidiary, Rochem Separation Systems India, to expand the company’s manufacturing facilities and support activities. The company will also use the funds for debt repayment, technology and growth initiatives, working capital requirements, and general corporate purposes.

Concord Enviro Systems Ltd, incorporated in 1992, is engaged in water management and wastewater treatment. It provides total water management services, encompassing consultancy in complete water management from concept through basic and detailed engineering to commissioning and monitoring operations.

As of March 31, 2024, Concord Enviro Systems exported its solutions to various regions globally, including North America, Latin America, Africa, the Middle East and Southeast Asia.