Business Standard

Monday, December 23, 2024 | 12:52 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Last Day! Concord Enviro IPO closes today: Subscription soars 7x, GMP up 7%

Concord Enviro has also received reviews from brokerages, including Bajaj Broking and SMIFS. Market analysts have recommended that investors subscribe to the public issue with a long-term perspective

ipo market listing share market

Kumar Gaurav New Delhi

Listen to This Article

The unlisted shares of Concord Enviro Systems, whose initial public offering (IPO) is set to close for subscription today, continue to trade at a premium in the grey market on Monday, December 23, 2024. Concord Enviro’s unlisted shares were trading at Rs 751 apiece, reflecting a grey market premium (GMP) of Rs 50, or 7.13 Rs per cent, against the upper end of the IPO price band of Rs 701, according to sources tracking unofficial markets.
 
The Rs 500 crore offering of Concord Enviro, available at a price band of Rs 665-701 and a lot size of 21 shares, has been subscribed 6.98 times as of the second day of subscription, which ended on Friday, December 20, 2024, according to data available on the National Stock Exchange (NSE). The public offering has so far received bids for 1,14,51,426 shares against 50,15,356 shares on offer, as of around 12:18 PM on Monday, December 23, 2024.  Also Read: Unimech Aerospace IPO
 
 
Concord Enviro IPO has witnessed the highest demand among Retail Individual Investors (RIIs), who have oversubscribed the category reserved for them by 3.25 times. This was followed by Non-Institutional Investors (NIIs), who have oversubscribed their category by 2.88 times. Meanwhile, Qualified Institutional Buyers (QIBs) have shown the lowest interest, placing bids for 23,877 shares against 13,79,122 reserved for them.
 
Concord Enviro has also received reviews from brokerages, including Bajaj Broking and SMIFS. Market analysts have recommended that investors subscribe to the public issue with a long-term perspective. READ MORE
 
As the subscription window to bid for the public offering closes today, the basis of allotment of Concord Enviro IPO shares is tentatively scheduled to be finalised on Tuesday, December 24, 2024. Subsequently, the company’s shares will be credited to the demat accounts of successful allottees by Thursday, December 26, 2024.  Also Read: DAM Capital Advisors IPO
 
Shares of Concord Enviro are expected to debut on the bourses by listing on the BSE and NSE, tentatively on Friday, December 27, 2024.
 
Established in July 1999, Concord Enviro Systems is a provider of global water and wastewater treatment, reuse, and zero-liquid discharge (ZLD) solutions. The company specializes in offering comprehensive, in-house services across the entire value chain, including design, manufacturing, installation, operation, and maintenance (O&M), and digitalization through IoT technologies. Concord Enviro's focus is on delivering integrated solutions aimed at energy optimization, recovery, and helping industries achieve water conservation and sustainability goals.
 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Dec 23 2024 | 12:50 PM IST

Explore News