Tue Dec 24 07:52:10 UTC 2024: ## Concord Enviro IPO Oversubscribed, Strong Grey Market Premium Hints at Positive Listing
**Mumbai, December 24, 2024** – Concord Enviro Systems Ltd.’s initial public offering (IPO) concluded yesterday with overwhelming investor interest, closing 10.67 times oversubscribed. The IPO, which offered 5,015,356 shares at a price band of ₹665-₹701, received bids for 53,533,347 shares. Strong demand was seen across all categories, with Qualified Institutional Buyers (QIBs) subscribing 17.32 times, Non-Institutional Investors (NIIs) 14.2 times, and retail investors 5.56 times.
The company, a leading provider of industrial wastewater reuse and zero liquid discharge solutions with a global presence, raised ₹150 crore from anchor investors prior to the IPO. Proceeds from the fresh issue will be used for expansion and other corporate purposes. At the upper price band, the company’s market capitalization is estimated at ₹1,450 crore.
The grey market premium (GMP) currently stands at ₹40, suggesting an anticipated listing price of around ₹741, representing a potential listing gain of over 6%. However, the GMP is subject to market sentiment and may fluctuate. Shares are expected to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 27th.
First Piper 