Concord Enviro Systems' IPO Sees Robust Demand

Concord Enviro Systems Ltd experienced a strong public offering, garnering 10.67 times the subscription on its IPO closing day. The offering, valued at Rs 500 crore, will fund expansions and reduce debt, focusing on water treatment initiatives. The company is set to list on NSE and BSE.

Concord Enviro Systems Ltd marked a successful conclusion to its Initial Public Offering (IPO) with a subscription rate of 10.67 times on the final bidding day. With an issue size aggregating to Rs 500.33 crore, the IPO secured bids for an impressive 5,35,33,347 shares compared to the 50,15,356 shares on offer, according to data from the NSE.

The IPO witnessed strong participation from various investor categories, with Qualified Institutional Buyers subscribing 17.32 times, non-institutional investors 14.20 times, and Retail Individual Investors 5.56 times their respective quotas. Ahead of the offering, the company raised Rs 150 crore from anchor investors.

Proceeds from the IPO will enable Concord Enviro Systems to invest in its units for water treatment systems and other growth areas. The company's shares will be publicly traded on the NSE and BSE, positioning itself as a key player in industrial water reuse and zero liquid discharge solutions with a global footprint.

(With inputs from agencies.)