Liquidity Events
Wastewater treatment co.Concord Enviro’s Rs.500-Cr IPO subscribed 10.67 times
The initial public offering (IPO) of Mumbai-based wastewater-treatment player Concord Enviro Systems was subscribed 10.67 times. The IPO comprises a fresh equity sale worth INR 175 crore and an offer for sale (OFS) of 46.4 lakh shares, taking the total consideration to INR 500 crore. The price band of the IPO was fixed at INR 665-701 per share.Retail investors subscribed at 5.56 times, while the non-institutions investors subscribed 14.20 times. The qualified institutional buyers (QIBs) subscribed 17.32 times over their allocated share.The net proceeds from the IPO would be used to invest in the firm’s wholly-owned subsidiaries.Concord Enviro Systems, established in July 1999, is a provider of water and wastewater treatment, reuse, and zero-liquid discharge (ZLD) solutions.
Between Dec 2009 and Aug 2015, Concord Enviro Systems had raised about USD 27 M from Global Environment Fund and Sage Capital.
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