Concord Enviro IPO - Day 1 Subscription at 0.48 Times

The opening day of Concord Enviro's initial public offering has shown measured investor participation, with overall subscription reaching 0.48 times by 3:10 PM on December 19, 2024. This initial response reflects the market's careful evaluation of India's leading water and wastewater treatment solutions provider, particularly notable given their global presence and focus on zero-liquid discharge (ZLD) technology.

The early subscription pattern reveals encouraging retail investor interest, with this segment showing the strongest participation at 0.84 times subscription. The Non-Institutional Investors have demonstrated selective participation at 0.23 times, with smaller NIIs showing relatively stronger confidence at 0.49 times compared to larger NIIs at 0.11 times.

The QIB portion is yet to see participation, though this is characteristic of institutional investors who often take a measured approach during the initial hours, particularly given the substantial anchor book of ₹150.098 crores that provides a strong foundation.
 

Subscription Status of Concord Enviro IPO:

*As of 3:10 PM

Here are the subscription details for Concord Enviro IPO as of Day 1 (19th December 2024, 3:10 PM):

Total Applications: 89,467

Key Highlights:

• Overall subscription of Concord Enviro IPO began at 0.48 times, showing measured initial market response
• Retail investors showed encouraging interest with 0.84 times subscription, worth ₹149.521 crores
• NII category started with 0.23 times subscription, with stronger sNII participation
• Strong anchor book of ₹150.098 crores provides institutional backing
• Total bids received for 23.87 lakh shares worth ₹167.375 crores
• Applications reached 89,467, indicating initial market interest
• Opening day response reflects methodical evaluation of environmental technology sector
• Early subscription pattern suggests careful assessment of growth prospects

About Concord Enviro Systems Limited: 

Founded in July 1999, Concord Enviro Systems Limited has established itself as a global leader in water and wastewater treatment solutions, with particular expertise in zero-liquid discharge (ZLD) technology. Their comprehensive service portfolio spans the entire value chain, including design, manufacturing, installation, operation and maintenance, and digital solutions through IoT integration.

With manufacturing facilities in both Vasai, India, and Sharjah, UAE, the company serves a diverse customer base of 377 clients worldwide, including 353 domestic and 24 international customers across pharmaceuticals, chemicals, food and beverage, and other industries. Their innovation capabilities are supported by an in-house R&D team of 21 professionals, while their global reach extends across North America, Latin America, Africa, the Middle East, and Southeast Asia. The company has demonstrated strong financial performance, achieving 46% revenue growth and 655% PAT increase between FY2023 and FY2024.
 

Highlights of the Concord Enviro IPO:

• IPO type: Book Built Issue
• IPO size: ₹500.33 crores
• Fresh Issue: ₹175.00 crores
• Offer for Sale: ₹325.33 crores
• Face value: ₹5 per share
• Price band: ₹665 to ₹701 per share
• Lot size: 21 shares
• Minimum investment for retail investors: ₹14,721
• Minimum investment for sNII: ₹2,06,094 (14 lots)
• Minimum investment for bNII: ₹10,01,028 (68 lots)
• Listing at: BSE, NSE
• IPO opens: December 19, 2024
• IPO closes: December 23, 2024
• Allotment date: December 24, 2024
• Refund initiation: December 26, 2024
• Credit of shares: December 26, 2024
• Listing date: December 27, 2024
• Lead Managers: Motilal Oswal Investment Advisors Limited, Equirus Capital Private Limited
• Registrar: Link Intime India Private Ltd

The initial day's subscription pattern suggests a thoughtful market approach to evaluating Concord Enviro's position in the growing environmental solutions sector, with investors carefully assessing both the opportunities and challenges in the global water treatment market.