Concord Enviro Systems IPO: A Green Leap Forward

Concord Enviro Systems Ltd's IPO launched with a 59% subscription. The issue aims to raise Rs 500 crore, with shares priced between Rs 665-701. Proceeds will fund technology expansions, debt payments, and working capital. The company's waste water solutions span global markets.

The IPO of Concord Enviro Systems Ltd, an environmental engineering firm, opened with 59% subscription on its debut day. It received bids for 29.79 lakh shares versus the 50.15 lakh shares on offer, NSE data indicated.

The retail investor portion enjoyed full subscription, while non-institutional investors subscribed to 35%. The company's Rs 500-crore public offering will close on December 23, with shares priced from Rs 665 to Rs 701 each.

The funds raised will enable technology expansions, new assembly units, and working capital requirements, extending Concord Enviro Systems' global reach in water treatment solutions. The company's shares will be listed on the NSE and BSE.

(With inputs from agencies.)