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Concord Enviro Systems IPO
Price Band
₹665.0–701.0
Issue Size
₹500.33 Cr
Lot Size
21 shares
Min Investment
₹14,721
GMP
+₹138.0 (19.69%)
Issue Price
₹701.0
Subject to Sauda
₹2200
Paid only if allotted
Concord Enviro Systems IPO AI Summary
- Concord Enviro Systems IPO is listed on BSE, NSE in the Waste Management sector.
- Price band: ₹665.0–₹701.0 per share, lot size 21 shares (min. investment ₹14,721).
- Subscription window: 19 Dec–23 Dec 2024, listing on 27 Dec 2024.
- Current GMP is +₹138.0 (19.69%), an estimated listing price of ₹839 — unofficial and can change daily.
Concord Enviro Systems Limited is set to offer its shares to the public with a focus on water and wastewater treatment solutions. The company has shown significant growth in total income and profit over recent years, although recent figures are from a 9-month period. With a strong market position and a diverse customer base, it aims to utilize the IPO proceeds for various growth initiatives.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Concord Enviro Systems IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 23 Dec 2024 — not a current signal.
4 of 5 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Concord Enviro Systems IPO Grey Market Premium (GMP) Today
GMP
+₹138.0
GMP %
+19.69%
Est. Listing
₹839.0
Updated: 25 Jul 2026 14:02
About the Company
Founded in July 1999, Concord Enviro Systems Limited is a global water and wastewater treatment and reuse solutions provider, including zero-liquid discharge (ZLD) technology. The company offers in-house solutions across the entire value chain, including design, manufacturing, installation, operation and maintenance (O&M), and digitalization, such as IoT. The company provides integrated wastewater treatment and zero liquid discharge (ZLD) solutions, focusing on energy optimization and recovery to aid industries in achieving water conservation and sustainability goals. The company's business can be segregated into the following:- The manufacture and sale of water and wastewater treatment, reuse and ZLD of systems and plants and turnkey solutions; Operations and maintenance; The manufacture and sale of consumables and spare parts (including membranes, plants, chemicals and consumables); and Installation of compressed biogas plants (“CBG Plants”). As of March 31, 2024, the company exports its solutions to North America, Latin America, Africa, the Middle East, and Southeast Asia and has a large customer base of 377 customers worldwide. As of FY 2024, the company has served over 353 domestic and 24 international customers in pharmaceuticals, chemicals, food and beverage, defence, automotive, steel, and textiles, with a presence in two countries. The company's clients include Diageo Mexico Operaciones, S.A. De C.V., Grasim Industries Limited, AB Mauri, Anthem Biosciences Private Limited, Bhopal Glues and Chemicals Private Limited, Kasyap Sweetners Private Limited, LANXESS India Private Limited, Puja Spintex Private Limited, SFC Environmental Technologies Private Limited, SMS Limited and Tagros Chemicals India Private Limited. Furthermore, the company currently executes projects for multinational companies like Diageo Mexico Operaciones, S.A. De C.V.that include implementing a ZLD solution for their distillery in La Barca, Jalisco, Mexico and a ZLD solution for another customer at their factory in New York, United States of America. The company has two manufacturing facilities: one in Vasai, India, and another in Sharjah, UAE. Their in-house R&D team, comprising 21 employees as of March 31, 2024, develops the solutions. Competitive Strengths Market leadership in ZLD technology in India, well placed to harness global industry opportunities Integrated solutions provider supported by backward integrated manufacturing facilities Established presence in international markets Diversified customer base across multiple industries and geographies
Company Financials (₹ Cr)
As of 2024-08-31
| Period Ended | 31 Aug 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 640.09 | 627.68 | 592.22 | 536.90 |
| Total Income | 208.02 | 512.27 | 350.50 | 337.57 |
| Profit After Tax | 0.52 | 41.44 | 5.49 | 16.48 |
| NET Worth | 319.71 | 320.82 | 279.23 | 266.81 |
| Reserves and Surplus | 300.59 | 303.09 | 258.64 | 261.12 |
| Total Borrowing | 167.53 | 153.19 | 131.06 | 125.76 |
Key Ratios
EPS
₹22.77
NAV
₹177.23
ROE
13.73%
ROCE
14.07%
RoNW
12.92%
P/B Value
3.96
P/E Ratio
30.79
Market Cap
₹1450.81 Cr
PAT Margin
8.34%
Debt/Equity
0.47
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Thermax Ltd. | 314.96 | 14.8% | 81.3 | 57.28 | 57.28 |
| Va Tech Wabag Ltd. | 235.96 | 15.04% | 48.28 | 39.49 | 39.49 |
| Triveni Engineering & Industries Ltd. | 132.51 | 13.8% | 24.86 | 18.05 | 18.05 |
| Ion Exchange (india) Ltd. | 86.15 | 19.24% | 43.28 | 16.53 | 16.53 |
| Praj Industries Ltd. | 69.35 | 22.24% | 51.39 | 15.42 | 15.42 |
| Concord Enviro Systems Limited This IPO | 177.23 | 12.92% | — | 22.77 | 22.77 |
Promoters
Prayas Goel and Prerak Goel
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Investment in the wholly owned Subsidiary, CEF for financing its capital expenditure requirements for the greenfield project to develop an assembly unit to assemble systems and plants for treatment of water, waste water and related membrane modules 25.00 2 Investment in the wholly owned Subsidiary, Rochem Separation Systems (India) Private Limited (“RSSPL”) for financing its capital expenditure requirements for the brown field project to expand the manufacturing facilities, storage and supporting activities 10.51 3 Funding capital expenditure requirements of the Company for purchase of plant and machinery 3.21 4 Investment in the wholly owned Subsidiary, Concord Enviro FZE for prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by CEF 50.00 5 Investment in the wholly owned Subsidiary, CEF, for funding working capital requirements of CEF 20.00 6 Investment in the joint venture, Roserve Enviro Private Limited to grow the pay per use/pay as you treat business 10.00 7 Investment in technology and other growth initiatives for access to new markets^ 23.50 8 General Corporate Purposes 20.68
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹337.57 Cr in the year ending 31 Mar 2022, increasing to ₹350.50 Cr by 31 Mar 2023, and further rising to ₹512.27 Cr by 31 Mar 2024. However, the most recent figure of ₹208.02 Cr as of 31 Aug 2024 is from a 9-month period and is not directly comparable to the previous full fiscal year.
Profit Trend
Profit after tax was ₹16.48 Cr in the year ending 31 Mar 2022, which increased to ₹5.49 Cr by 31 Mar 2023, and then rose significantly to ₹41.44 Cr by 31 Mar 2024. The latest figure of ₹0.52 Cr as of 31 Aug 2024 is from a 9-month period and is not directly comparable to the prior full year.
Valuation
At the issue price of ₹701, Concord Enviro Systems Limited has an implied P/E ratio of approximately 30.79 based on its EPS of ₹22.77. This is compared to peers whose P/E ratios range from 24.86 to 81.3.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the price at which shares are traded in the grey market before they are listed on the stock exchange. A positive GMP suggests that the market expects the stock to list at a higher price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's growth potential and market position.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, established companies may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on December 19, 2024, and closes on December 23, 2024. Allotment of shares will be finalized by December 24, 2024, and the shares are expected to be listed on the stock exchange on December 27, 2024.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange at a price higher than the issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing.
This evaluation is generated from Concord Enviro Systems's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Concord Enviro Systems IPO GMP today?
Concord Enviro Systems IPO GMP today is +₹138.0 (19.69%), indicating an estimated listing price of ₹839. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Concord Enviro Systems IPO?
The price band of Concord Enviro Systems IPO is ₹665.0–₹701.0 per share.
When does Concord Enviro Systems IPO open and close?
Concord Enviro Systems IPO opens on 19 December 2024 and closes on 23 December 2024.
When does Concord Enviro Systems IPO list on the stock exchange?
Concord Enviro Systems IPO listed on 27 December 2024 at ₹839.0.
What is the lot size for Concord Enviro Systems IPO?
The lot size for Concord Enviro Systems IPO is 21 shares, requiring a minimum investment of ₹14,721.
What is the lot size for this IPO?
The lot size for Concord Enviro Systems' IPO is 21 shares.
What is the minimum investment required?
The minimum investment required is ₹14,721.
What is the price band for the IPO?
The price band for the IPO is ₹665 to ₹701.
When is the listing date for the shares?
The shares are expected to be listed on December 27, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
19 Dec 2024
Close
23 Dec 2024
Allotment
24 Dec 2024
Listing
27 Dec 2024
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