Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

Concord Enviro System files DRHP to raise funds via IPO

Posted On: 2022-07-02 12:07:02 (Time Zone: IST)


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 rai??se 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.

The Mumbai-based company is the second largest Indian solutions provider in Fiscal 2021 for industrial water recycle and reuse systems in terms of revenue, according to a company commissioned Frost & Sullivan report. In Fiscal 2021 the company was the largest Zero-liquid discharge (ZLD) solutions provider in India in revenue terms, and through their recycling solutions have been supporting its clients to achieve water conservation and achieve sustainability.

For the nine month ended December 31, 2021 and Fiscal 2021, the company serviced over 356 domestic customers and 27 international customers across a diverse set of industries such as pharmaceutical, chemicals, food and beverage, defence and offshore, automotive and auto ancillaries, steel and textiles.

The company provides solutions to their customers on a turnkey basis or on rental basis under its "pay per use/pay as you treat" model, that customers are able to avoid large capital expenditures. The company integrated solutions incorporate their own custom designs of systems and plants including effluent treatment plants, membrane-based systems including ultra-filtration, nano-filtration, reverse osmosis and waste heat evaporators ("WHE"). In addition, the company offers their customers a comprehensive suite of O&M services including spare parts.

The company has also implemented digitalization solutions (including IoT) to provide data capture and analysis platforms that enable real-time monitoring, troubleshooting and preventative maintenance of their installed systems and plants.

The company develops their solutions through their in-house R&D team, which designs industry-specific membranes for their systems and develops new technology and processes. As of March 31, 2022, the company had been awarded three patents in India and had filed three additional patent applications. The company has two manufacturing facilities, one located at Vasai in Maharashtra, India, and the other at Sharjah in the UAE.

The company has a diversified customer base across industry sectors and geographies. In the nine-month period ended December 31, 2021 and in Fiscal 2021, the company exported their products and delivered our services to over 18 countries in Asia, North Africa, Latin America and Europe, through its two major international customers are East Africa Breweries (a subsidiary of Diageo Great Britain Ltd) and AB Mauri.

As at April 30, 2022, it had an order book of Rs 172.35 crore (including advance purchase orders), of which 46.24% comprises system and plant orders and 53.76% comprises after-sales revenue (including consumables and spares orders and O&M services orders).

The companies' revenue from operations stood at Rs 347.60 crore for Fiscal 2021 from Rs 383.21 crore for the same period last year, the decline was a result of post-COVID-19 related restrictions and profit after tax more than doubled to Rs 19.81 crore for Fiscal 2021 from Rs 7.86 crore for Fiscal 2020. For nine month ending December 2021, revenue from operations stood at Rs 219.37 crore and profit after tax at Rs 3.03 crore.

Water resource in India refers to surface water (rivers, lakes, ponds, etc.) and groundwater; and does not include water generated from desalination and recycle/reuse techniques. The Indian total utilizable water resource is pegged at 1,122 billion cubic meters ("BCM") per year by the Ministry of Jal Shakti. According to the F&S report mentioned in the DRHP, the industrial water and wastewater treatment solutions market was valued at Rs 6500 crore in Fiscal 2021. For the calendar year 2018, of the total utilizable water, 761 BCM was consumed by all end user segments and is estimated to be 1498 BCM by 2030.

DAM Capital Advisors Limited and Equirus Capital Private Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

GEM Enviro Management Limited IPO Opens on June 19, 2024

Stanley Lifestyles Limited's IPO to open on Friday, June 21, 2024

Bajaj Housing Finance Ltd files DRHP for IPO

Bajaj Housing Finance Limited to raise funds through IPO

Kronox Lab Sciences IPO subscribed 117.25 times on Final Day

Kronox Lab Sciences IPO fully subscribed in less than half an hour of opening

Kronox Lab Sciences Limited raises Rs. 39.04 crore from Anchor Investors

Sattrix Information Security Limited SME IPO to open on June 5, price band set at ?121 per share

Kronox Lab Sciences Ltd's Initial Public Offering to open on Friday June 3, 2024

Aimtron Electronics Limited's SME IPO to open on Thursday, May 30, 2024

Garuda Construction and Engineering refiles DRHP for IPO

Nephro Care India Limited plans to raise Rs. 35-40 crore from its upcoming IPO

Vilas Transcore Ltd's SME IPO to open on Monday, May 27, 2024, price band set at ?139/- to ?147/- per Equity Share

Rulka Electricals Ltd, HOAC Foods India Ltd NSE-SME IPOs garner huge oversubscription

HOAC Foods India Limited IPO subscribed 807.44 times, issue closes today

Allied Blenders and Distillers Limited gets Sebi nod for Rs 1500 crore IPO

Go Digit General Insurance Ltd's IPO to open on Wednesday, May 15, 2024

Sanstar Limited, gets SEBI nod to float IPO

Sattrix Information Security files DRHP for SME IPO, targeting a listing by mid-May.

Belstar Microfinance Ltd files DRHP with SEBI for IPO

Asirvad Micro Finance Limited gets Sebi nod for IPO

Diffusion Engineers refiles DRHP with SEBI for IPO

Racks & Rollers - Storage Technologies and Automation Limited's SME Initial Public Offering to open on Tuesday, April 30, 2024

JNK India IPO subscribed 28 times on the Final Day

JNK India IPO fully subscribed on Day 2 led by NII and Retail

Emmforce Autotech's anchor book fully subscribed

JNK India Limited raises Rs. 194.84 crore from Anchor Investors

Sanathan Textiles refiles DRHP to raise Rs 800 crs

Kronox Lab Sciences gets SEBI nod to float IPO

JNK India Limited's IPO to open on Tuesday, April 23rd, 2024

Emmforce IPO opens on April 23, 2024, price band fixed at Rs. 93-98

Nephro Care India Ltd. files DRHP with NSE Emerge

TAC Security's IPO receives subscription bids worth $1 Billion

Supermarket Chain Patel Retail Limited files DRHP for IPO

Rays Power Infra announces completion of its Pre-IPO Investment

Afcons Infrastructure Limited, files DRHP for Rs 7,000 crore IPO

Crizac Limited files DRHP for Rs 1000 crore IPO

Trust Fintech IPO Anchor Book fully subscribed

Creative Graphics Solutions India Ltd IPO opens on Thursday, March 28, price band fixed at Rs. 80-85

BFSI-focused SaaS player Trust Fintech IPO opens on Tuesday, March 26, price band fixed at Rs. 95-101

TAC Security is set to become India's First Listed pure play Cyber Security Company

Interarch Building Products Limited files DRHP with SEBI for IPO

KP Green Engineering SME IPO subscribed 27.51 times on Final Day

Value Fashion Retailer Baazar Style Retail Limited files DRHP with SEBI for IPO

KP Green Engineering SME IPO subscribed 5.83 times on Day 2

KP Green Engineering SME IPO fully subscribed on Day 1

KP Green Engineering Limited raises Rs. 54 crore from Anchor Investors

Manba Finance Limited files DRHP with SEBI for IPO

Shivalic Power Control Limited files DRHP with NSE Emerge

KP Green Engineering Ltd's SME IPO to open on Friday, March 15th, 2024


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020