Concord Enviro Systems, an environmental engineering options agency, has filed preliminary papers with Sebi to lift funds via an preliminary public providing (IPO). The proposed IPO contains contemporary issuance of fairness shares price Rs 175 crore and an offer-for-sale (OFS) of 35,69,180 fairness shares by promoters and an investor, in response to the draft pink herring prospectus (DRHP).
Those promoting shares within the OFS are, promoters –Prayas Goel and Prerak Goel, promoter teams — Namrata Goel, Nidhi Goel and Pushpa Goel– and investor AF Holdings. Proceeds from the contemporary problem will probably be used for funding within the firm’s arm Concord Enviro FZE in relation to financing the development of an meeting unit in Sharjah International Airport Free Zone, funding in subsidiary Rochem Separation Systems (India) for funding its working capital necessities, cost of debt and basic company goal.
Concord Enviro Systems is an built-in options supplier for industrial waste water reuse and 0 liquid discharge options, with an in-house place throughout the worth chain. According to an F&S Report, the commercial water and waste water remedy options market was valued at Rs 6,500 crore in fiscal 2021. DAM Capital Advisors and Equirus Capital are the e book working lead managers to the problem.
Source: www.financialexpress.com”