The scrip was listed at Rs 832, exhibiting a premium of 18.69% to the issue price. So far, the stock has hit a high of 835 and a low of 800.50. On the BSE, over 3.03 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of Concord Enviro Systems was subscribed 10.67 times. The issue opened for bidding on 19 December 2024 and it closed on 23 December 2024. The price band of the IPO was fixed between Rs 665 and 701 per share. The IPO comprised a fresh issue of equity shares worth up to Rs 175 crore and an offer for sale of up to 46,40,888 equity shares. Of the net proceeds from the fresh issue of equity shares, about Rs 25 crore will be used towards investment in its wholly owned subsidiary (WoS), Concord Enviro FZE (CEF); Rs 10.51 crore towards investment in its WOS, Rochem Separation Systems (India) (RSSPL); Rs 3.07 crore towards funding capital expenditure requirements of the company for purchase of plant and machinery; Rs 50 crore towards investment in its WOS, Concord Enviro FZE for prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by Concord Enviro FZE Further, Rs 20 crore will be utilized towards investment in its WOS, Concord Enviro FZE, for funding working capital requirements of Concord Enviro FZE; Rs 10 crore towards investment in its joint venture, Roserve Enviro to grow its pay per use/pay as you treat business; Rs 23.5 crore towards investment in technology and other growth initiatives for access to new markets; and balance towards general corporate purposes. Ahead of the IPO, Concord Enviro Systems on Wednesday, 18 December 2024, raised Rs 150.09 crore from anchor investors. The board allotted 21.41 lakh shares at Rs 701 each to 18 anchor investors. Concord Enviro Systems (CESL) is a global provider of water and wastewater treatment and reuse solutions, including zero liquid discharge (ZLD) technology. CESL have in-house capabilities to develop solutions across the entire value chain including designing, manufacturing, installation and commissioning, operation and maintenance (O&M) and digitalization solutions including Internet of Things (IoT). On a consolidated basis, the firm registered consolidated net profit of Rs 0.52 crore and income from operations of Rs 206.17 crore for the five months ended on 31 July 2024. Powered by Capital Market - Live