Concord Enviro Systems, a firm specializing in environmental engineering solutions, has submitted new preliminary documents to SEBI for an Initial Public Offering (IPO). The IPO plan includes issuing fresh equity shares worth ₹192.3 crore and an Offer For Sale (OFS) of 51.94 lakh shares by the company’s promoters and an investor, as detailed in the Draft Red Herring Prospectus (DRHP).
The OFS will include shares from promoters Prayas Goel and Prerak Goel, along with promoter groups Namrata Goel, Nidhi Goel, and Pushpa Goel, and investor AF Holdings. Funds raised from the fresh issue are planned for several key areas: ₹25 crore will be allocated to Concord Enviro FZE (CEF) for a new assembly unit focused on water treatment systems, and ₹10.505 crore will support expansion at Rochem Separation Systems (India) Private Ltd.
Other investments include ₹50 crore for debt repayment at CEF, ₹33.5 crore for technology and market expansion, ₹20 crore for working capital, and ₹10 crore for expanding Roserve Enviro Private Limited’s “pay per use/pay as you treat” business. Additionally, ₹3.228 crore will be used for capital expenditures on plant and machinery, with a portion reserved for general corporate purposes.
This represents Concord Enviro Systems’ second attempt to go public. The company had previously filed IPO documents with SEBI in 2022 and received clearance but did not proceed with the issue. Established in 2011, Concord Enviro Systems provides integrated solutions for industrial wastewater reuse and zero liquid discharge.
Its operations span several global regions, including North America, Latin America, Africa, the Middle East, and Southeast Asia, serving 377 customers as of March 31, 2024. Motilal Oswal Investment Advisors and Equirus Capital are serving as the book-running lead managers for this issue.
