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Concord Enviro Systems Ltd IPO

We are a provider of water and wastewater treatment and reuse solutions, including zero liquid discharge (ZLD) technology. ZLD systems are wastewater treatment solutions designed to recycle and recover clean water from industrial effluents, leaving behind solid waste or residue. We have in-house capabilities to develop solutions across the entire value chain including designing, manufacturing, installation and commissioning, operations and maintenance (O&M) and digitalization solutions including IoT. The sources through which we generate our revenue include (i) sale of systems and plants (ii) operations and maintenance of installed plants, and (iii) supplying consumables and spares for installed plants. Our reach extends to diverse regions with exports to countries in North America, Latin America, Africa, the Middle East, and Southeast Asia, serving 310 and 377 customers worldwide as of August 31, 2024 and March 31, 2024, respectively.

Concord Enviro Systems Ltd IPO Details

Total Shares Offered

₹ 71,37,321

Offer to Public

46,40,888

Retail Max (Shares)

₹ 24,98,063

Pre Issue Promoters Holding

₹ 1,10,89,800

Exchange

BSE

Issue size

₹ 500.33 Cr

IPO Open Date

Dec 19, 2024

Close Date

Dec 23, 2024

Lot Size

Min Investment

₹ 13,965

Issue Type

Book Building

Listing Date

Dec 27, 2024

Concord Enviro Systems Ltd IPO Dates

Dec 19, 2024

Opening date

Dec 23, 2024

Closing date

Dec 24, 2024

Basis of Allotment

Dec 26, 2024

Initiation of Refunds

Dec 26, 2024

Credit of Shares

Dec 27, 2024

Listing date

Details

Sector	Type
Sector	Engineering
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*	Shares Bid*
QIB	6.69x	3568661	23882166
NII	14.47x	1070598	15488928
Retail	5.67x	2498063	14163492
Employee	0x	0	0
Total	7.5x	7137321	53534586

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

6.69x

14.47x

5.67x

7.5x

3568661

1070598

2498063

7137321

23882166

15488928

14163492

53534586

Concord Enviro Systems Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	594.44	496.86	343.22
EBITDA	4.06	-0.17	-8.38
PAT	3.13	2.32	-8.43
Total Assets	94.95	6.43	2.83
Share Capital	10.35	9.10	9.10
Total Borrowings	13.97	5.00	2.48
Operating Activities (Net Cash)	3.15	2.34	-8.41
Investing Activities (Net Cash)	103.18	49.58	48.29
Financing Activities (Net Cash)	13.97	5.00	2.48
Net Cashflow	77.43	0.01	0.03

About Concord Enviro Systems Ltd

Our Company was originally incorporated as Concord Enviro Systems Private Limited under the provisions of the Companies Act, 1956 pursuant to a certificate of incorporation dated July 1, 1999, issued by the Registrar of Companies, Maharashtra at Mumbai (RoC). The name of our Company was subsequently changed to Concord Enviro Systems Limited, upon conversion into a public company, pursuant to a board resolution dated May 23, 2022, and a shareholders' resolution dated May 25, 2022, and a fresh certificate of incorporation was issued by the RoC consequent upon change of name on conversion to public limited company on June 9, 2022.

Industrial water and wastewater management encompasses sourcing chemicals, treatment agents, and equipment, along with managing water sources. It involves treating raw water and wastewater through various processes. Wastewater treatment aims to convert wastewater into environmentally suitable effluent, meeting national and international standards for returning to the water cycle. The industrial wastewater treatment market serves a variety of end-users, such as refineries, chemicals, power, textiles, and pharmaceuticals sectors. Similarly, industries suppliers are suppliers providing products like pumps, piping, electrical and instrumentation systems, control systems and membranes while our participants are EPC Companies, design consultants and system integrators.

Peer Comparison:

No Listed Industry Peers
Praj Industries Ltd
Ion Exchange (India) Ltd
Triveni Engineering and Industries Ltd
Va Tech Wabag Ltd
Thermax Ltd

Concord Enviro Systems Ltd Key Points

Strengths

Expertise in ZLD technology in India and well placed to harness global industry opportunities.

Integrated solutions provider supported by backward integrated manufacturing facilities.

Established presence in large international markets.

Diversified customer base across multiple industries and geographies.

Focus on innovation supported by R&D and design capabilities.

Risk

The company's business is dependent and will continue to depends on its manufacturing facilities. For Fiscal 2024 and the five-months ended August 31, 2024, for its manufacturing facilities at Vasai and Sharjah, the company total operating costs were Rs. 1,312.26 million and Rs. 861.68 million, respectively. The company is subject to certain risks in its manufacturing process which are outside the company control. Any such risks if materialised, could have an adverse effect on its business, results of operations, financial condition and cash flows.

Its capacity utilization has been low in the five months ended August 31, 2024, Fiscal 2024, Fiscal 2023 and Fiscal 2022, which exposes it to higher production costs and lower profitability. Low capacity utilisation in the future may adversely affect its business, results of operations and financial condition. Information relating to the installed manufacturing capacity of its two manufacturing facilities included in this Red Herring Prospectus are based on various assumptions and estimates and future production and capacity may vary.

The company is dependent on and derives a substantial portion of its revenue (more than 50%) from its top 10 customers. During August 31, 2024 and Fiscal 2024, our revenue from the company top 10 customers was Rs. 1,127.41 and Rs. 2,779.95 million, which is 54.69% and 55.95% of its revenue from operations respectively. Cancellation by customers or delay or reduction in their orders could have a material adverse effect on its business, results of operations and financial condition. The company is also have a number of Government customers which exposes it to various risks inherent in doing business with them, which may adversely affect its business, results of operations and financial condition.

Strategy

Add new capacity for the manufacture of membrane modules, WHE modules and containerised plants.

Expand into new sectors for wastewater reuse and zero liquid discharge.

Expand our presence in existing geographies and enter new markets.

Cross sell new products to existing customers.

Leverage our in-house capabilities to address the growing demand for IoT applications in the water and wastewater sector.

How To Apply for Concord Enviro Systems Ltd IPO Online?

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Go through the IPO details like lot size, price band, about the company, etc.

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Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Concord Enviro Systems Ltd IPO?

Concord Enviro Systems Ltd's IPO offers shares for up to 175 It begins on Dec 19, 2024 and ends on Dec 23, 2024.

What is the price of the Concord Enviro Systems Ltd IPO?

The price of Concord Enviro Systems Ltd IPO ranges between ₹665 to ₹701 per share.

What are the open and close dates for the Concord Enviro Systems Ltd IPO?

The Concord Enviro Systems Ltd IPO opens on Dec 19, 2024 and closes on Dec 23, 2024.

When will the Concord Enviro Systems Ltd IPO be allotted?

The allotment for the Concord Enviro Systems Ltd IPO will be finalised on Dec 24, 2024. The shares will be listed on BSE and NSE on Dec 27, 2024.

What is the minimum lot size required for Concord Enviro Systems Ltd IPO?

The minimum lot size for Concord Enviro Systems Ltd IPO is 21 shares, priced between ₹665 to ₹701 per share.

What is the GMP of Concord Enviro Systems Ltd IPO?

The GMP (Grey Market Premium) of Concord Enviro Systems Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Concord Enviro Systems Ltd IPO?

To check the allotment status of Concord Enviro Systems Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Concord Enviro Systems Ltd IPO getting listed?

The Concord Enviro Systems Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Dec 19, 2024, and closes on Dec 23, 2024. The allotment is finalised on Dec 24, 2024.

How do you apply for the Concord Enviro Systems Ltd IPO?

To apply for the Concord Enviro Systems Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.