Concord Enviro Systems IPO Day 2- check key details, subscription status and should you Apply or not?

Concord Enviro Systems Limited IPO: The issue that opens for subscription on 19 December 2024, is a book built issue of ₹500.33 crores. The issue is a combination of fresh issue of 0.25 crore shares aggregating to ₹175.00 crores and offer for sale of 0.46 crore shares aggregating to ₹325.33 crores.

Concord Enviro IPO: Subscription status

Concord Enviro IPO had been subscribed 1.15 times, by December 20, 2024 4:10 OPM. The public offering had been subscribed to 1.9 times in the retail category, 0 times in the QIB category, and 0.84 times in the NII category.

Concord Enviro IPO: key dates

Concord Enviro IPO that has opened for suscription on 19 December, closes on 23 December 2024. On Tuesday, December 24, 2024, the allotment for the Concord Enviro IPO is anticipated to be finalized. The Concord Enviro IPO is scheduled to list on the BSE and NSE on Friday, December 27, 2024.

Concord Enviro IPO; Applications details

The pricing range for the Concord Enviro IPO is ₹665 to ₹701 per share. Applications must have a minimum lot size of 21. Retail investors hence are required to make a minimum investment of ₹14,721, on application

Concord Enviro IPO: Apply or not?

Concord Enviro Systems Limited, a global provider of water and wastewater treatment and reuse solutions, including zero-liquid discharge (ZLD) technology, was established in July 1999.

The company provides in-house solutions throughout the whole value chain, including design, production, installation, operation and maintenance (O&M), and digitalization . With an emphasis on energy efficiency and recovery, the company offers comprehensive wastewater treatment and zero liquid discharge (ZLD) solutions to help enterprises meet sustainability and water conservation targets.

Anand Rathi Research has recommended a “Subscribe-Long term” rating to the IPO. The Research house believes that the IPO is fairly priced

At the upper price band company is valuing at Price to Earnings or P/E of 35.01 times, with an Enterprice Value to Ebitda (Earnings before interest tax depreciaion and amortisation) of 22.1 times and market cap of ₹ 14,508 million post issue of equity shares and return on net worth of 12.92%.

Concord Enviro Systems Ltd has expertise in ZLD technology in India and well placed to harness global industry opportunities with integrated solutions provider supported by backward integrated manufacturing facilities and diversified customer base across multiple industries and geographies along with focus on innovation supported by R&D and design capabilities.

The valuation of Concord Enviro Systems' IPO appears promising- Bajaj Broking

Bajaj Broking however feeld that the valuation of Concord Enviro Systems' IPO appears promising due to its strong financial performance, strategic market position, and robust growth prospects. The Concord Enviro has demonstrated consistent revenue growth and profitability, coupled with a healthy balance sheet and stable cash flow.

Concord Enviro's reputation in the environmental solutions sector, along with long-term contracts and a diversified customer base, enhances its market stability. Concord Enviro Systems' expansion plans, focus on innovation, and commitment to sustainability position it well for future growth, especially given the increasing demand for environmental solutions and stricter regulatory requirements. While favorable industry conditions and the company’s competitive advantages make it an attractive investment, potential risks such as market competition and economic fluctuations should also be considered in the valuation.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.