Shares of Concord Enviro Systems will be listed at the boures today. The ₹500.33-crore initial public offering (IPO) of integrated solutions provider for industrial wastewater re-use and zero liquid discharge solutions was subscribed 10.67 times.

The company has fixed the issue price at ₹701, at the upper end of price band ₹665-701.

According to market buzz, the stock was commanding a premium of ₹55-60 (or 7-8 per cent premium) over the issue price.

While the QIB portion was subscribed 17.32 times, the NII and retail portions were subscribed 14.20 times and 5.56 times, respectively.

Ahead of the issue opening, Concord Enviro had raised ₹150.1 crore from 13 institutional investors through the anchor book.

The IPO - fresh issue worth ₹175 crore and an offer-for-sale (OFS) worth ₹325.33 crore- attracted marquee investors such as ICICI Prudential Mutual Fund, Kotak Mahindra AMC, Bandhan Mutual Fund, Invesco India, PGIM India, LIC Mutual Fund, Morgan Stanley, Societe Generale, Meru Investment Fund, SBI General Insurance, Winro Commercial, LC Pharos Multi Strategy Fund and BNP Paribas Financial Markets in the anchor window.

Proceeds from the fresh issue will be invested in Concord Enviro FZE (CEF) to set up a new assembly unit for water treatment systems, as well as to meet its working capital requirements. Additionally, funds will be invested in Rochem Separation Systems (India) Pvt Ltd to expand its manufacturing facilities, support activities, pay off debt, fund technology and growth initiatives, meet working capital requirements, and for general corporate purposes.

Concord Enviro Systems is an integrated solutions provider for industrial wastewater re-use and zero liquid discharge solutions, with an in-house presence across the value chain. The company’s reach extends to diverse regions, with exports to countries in North America, Latin America, Africa, West Asia, and South-East Asia.

Published on December 27, 2024