S&R Associates Represented Motilal Oswal Investment Advisors And Equirus Capital On Concord Enviro Systems IPO
S&R Associates Represented Motilal Oswal Investment Advisors And Equirus Capital On Concord Enviro Systems IPO
S&R Associates represented Motilal Oswal Investment Advisors Limited and Equirus Capital, the book-running lead managers, in the ₹500.33 crores initial public offering (IPO) by Concord Enviro Systems Limited, a provider of industrial wastewater reuse and zero liquid discharge solutions.
The IPO, a book-built issue, included a fresh issue of 0.25 crores shares aggregating ₹175 crores and an offer for sale of 0.46 crores shares totaling ₹325.33 crores. The price band was set between ₹665 and ₹701 per share.
The IPO opened for subscription on December 19, 2024, and closed on December 23, 2024.
The proceeds from the IPO will be used for strategic purposes, including investments in wholly-owned subsidiaries such as Concord Enviro FZE and Rochem Separation Systems (India) Private Limited, and funding capital expenditure requirements for purchasing plant and machinery. A significant portion will be allocated to support the capital expenditure needs of a greenfield project by Concord Enviro FZE.
The S&R Associates team advising on the transaction was led by Partner Jitesh Shahani, with support from Associates Ishan Seth, Aditya Jain, Indrajit Roy, and Aarushi Kapoor.
