The Offer is being made through the Book Building Process, wherein not less than 75% of the Offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the Offer shall be available for allocation to Non-Institutional Bidders.

The issue with a face value of Rs 5 per equity share consists of a fresh issue of equity shares worth up to Rs 175 crore and an offer-for-sale (OFS) up to 3,569,180 equity shares.

Mumbai-based Concord Enviro Systems Limited, an integrated solutions provider of industrial wastewater reuse and zero liquid discharge (“ZLD”) solutions, with an inhouse position across the value chain including design, component manufacturing, installation and commissioning and operation and maintenance (“O&M”) including digitalization solutions including Internet of Things (“IoT”) technology for analysis of customer data has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).

The issue with a face value of Rs 5 per equity share consists of a fresh issue of equity shares worth up to Rs 175 crore and an offer-for-sale (OFS) up to 3,569,180 equity shares by Promoter and selling shareholders, which comprises of up to 3,114,660 by AF Holdings, up to 150,600 by Prayas Goel, up to 150,500 equity shares by Prerak Goel, up to 29,500 equity shares Namrata Goel, up to 31,500 equity shares by Nidhi Goel and up to 92,420 equity shares Pushpa Goel (“Selling Shareholders”).  

The Offer is being made through the Book Building Process, wherein not less than 75% of the Offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders.

Additionally, the company in consultation with merchant bankers to the issue may consider a right issue, private placement, preferential issue of equity shares or any other method aggregating up to Rs. 35 crore. If such placement is completed, the fresh issue size will be reduced.

The proceeds from its fresh issuance worth Rs. 18 crore will be utilised for investment in its material Subsidiary, Concord Enviro FZE (“CEF”) in relation to financing the construction of an assembly unit (“Assembly Unit”) in Sharjah International Airport Free Zone, Rs 30 crore in Rochem Separation Systems (India) Private Limited (“RSSPL”) for funding its working capital requirements, Rs 30 crore in investment in our Material Subsidiary, CEF for funding its working capital requirements, Rs 66.50 crore for Prepayment or repayment of all or a portion of certain outstanding borrowings availed by its subsidiaries and general corporate purposes.