365Telugu.com online news,National, December 18th, 2024: Concord Enviro Systems Limited (“CESL” or “The Company”) is set to launch its Initial Public Offering (IPO) on Thursday, December 19, 2024.
- Anchor Investor Period: Opens and closes on Wednesday, December 18, 2024.
- Bid/Offer Period: Opens on December 19, 2024, and closes on Monday, December 23, 2024.
- Price Band: ₹665 to ₹701 per Equity Share.
- Bid Lot: Minimum of 21 Equity Shares and multiples thereof.
The proceeds from the IPO will be used for:
- Investment in Concord Enviro FZE (CEF) for establishing a greenfield assembly unit for water and wastewater treatment systems – ₹250 million.
- Expansion of manufacturing facilities by Rochem Separation Systems (India) Private Limited (RSSPL) – ₹105.05 million.
- Purchase of plant and machinery – ₹32.07 million.
- Repayment of borrowings by CEF – ₹500 million.
- Working capital requirements for CEF – ₹200 million.
- Investment in Roserve Enviro Private Limited to expand the pay-per-use business model – ₹100 million.
- Investment in technology and new market growth initiatives – ₹235 million.
- General corporate purposes.
Offer Structure:
- Fresh Issue: Equity shares worth ₹1,750 million.
- Offer for Sale: Includes shares by Investor Selling Shareholder (AF Holdings) and Promoter Group Selling Shareholders.
The Equity Shares will be listed on the BSE and NSE, with BSE designated as the primary exchange. Motilal Oswal Investment Advisors Limited and Equirus Capital Private Limited are acting as the book-running lead managers (BRLMs).
The Offer is structured in accordance with SEBI regulations:
- Qualified Institutional Buyers (QIBs): 50% of the Offer, including up to 60% for Anchor Investors.
- Non-Institutional Bidders: 15% of the Offer.
- Retail Individual Investors: 35% of the Offer.
All bids, except for Anchor Investors, must be submitted through the Application Supported by Blocked Amount (ASBA) process. For more details, refer to the company’s Red Herring Prospectus.