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Concord Enviro IPO Allotment: The IPO was used in a cost band of Rs 665 to Rs 701 per share.
Concord Enviro IPO Allotment: The GMP undergoes beliefs in the marketplace and might transform.
Concord Enviro IPO Allotment, GMP Today: The going public (IPO) of ecological design services company Concord Enviro Systems Ltd ended on Monday with solid need. By 5:00 PM on the last day, the IPO was subscribed 10.67 times, obtaining quotes for 5,35,33,347 shares versus the 50,15,356 shares available.
The retail group saw a registration of 5.56 times, while the non-institutional financier (NII) group was subscribed 14.2 times. The certified institutional customer (QIB) group led with a 17.32 times membership.
The IPO, which opened up for bidding process on Thursday, December 19, was used in a cost band of Rs 665 to Rs 701 per share.
Concord Enviro IPO: Key Dates
Closing Date: December 23 (Monday)
Allotment Finalisation: December 24
Listing on BSE and NSE: December 27 (Friday)
Concord Enviro IPO GMP Today
The GMP for the Concord Enviro IPO is Rs 40, showing an anticipated listing rate of roughly Rs 741 (Rs 701 + Rs 40). This recommends the grey market expects a listing gain of over 6% over the IPO’s top rate band of Rs 701 per share. This suggests a favorable listing gain for financiers on December 27.
The GMP undergoes beliefs in the marketplace and might transform.
Concord Enviro IPO: More Details
The Concord Enviro IPO includes 2 elements:
- Fresh Issue: Equity shares worth Rs 175 crore.
- Offer- for-Sale (OFS): 46.41 lakh equity shares valued at Rs 325.33 crore (at the top rate band).
This brings the complete concern dimension to Rs 500.33 crore. Shares under the OFS will certainly be offered by:
- Promoters: Prayas Goel and Prerak Goel.
- Promoter Group: Namrata Goel, Nidhi Goel, and Pushpa Goel.
- Investor: AF Holdings.
Price Band and Investment Details
- Price Band: Rs 665 to Rs 701 per share.
- Minimum Application Size: 21 shares.
Investment Requirements:
- Retail Investors: Rs 14,721 (minimum).
- Small NIIs: 14 whole lots (294 shares) totaling up to Rs 2,06,094.
- Large NIIs: 68 whole lots (1,428 shares) totaling up to Rs 10,01,028.
Fund Utilisation
Proceeds from the fresh concern will certainly be designated as complies with:
- Concord Enviro FZE (CEF): For establishing a brand-new setting up device for water therapy systems and conference capital demands.
- Rochem Separation Systems (India)Pvt Ltd.: For increasing making centers, settling financial debt, moneying innovation and development efforts, sustaining capital, and basic business functions.
Anchor Investors and Market Capitalisation
Concord Enviro has actually elevated Rs 150 crore from support financiers in advance of the IPO.
At the top rate band, the business’s market capitalisation is approximated at Rs 1,450 crore.
Reservation Details
- 50% booked for Qualified Institutional Buyers (QIBs).
- 35% booked for retail financiers.
- 15% booked for NIIs.
Business Overview
Concord Enviro Systems is a leading supplier of commercial wastewater reuse and absolutely no fluid discharge services. The business provides incorporated solutions throughout the worth chain and has a worldwide impact, with exports to North America, Latin America, Africa, the Middle East, and Southeast Asia.
Listing and Book Running Lead Managers
- Listing Date: December 27, 2024.
- Stock Exchanges: NSE and BSE.
- Lead Managers: Motilal Oswal Investment Advisors and Equirus Capital.
