Concord Enviro IPO GMP: The company is witnessing subdued investor interest as indicated by its GMP (Grey market premium), which stood at Rs 0
Concord Enviro IPO Listing: The last weeks of 2024 are proving out to be quite busy for the primary market as many mainline IPOs (Initial Public Offerings) are set to make their debut on the Dalal Street. The Concord Enviro IPO opens for subscription on December 19 and closes on December 23, 2024.
The wastewater solution provider is planning to raise around Rs 500 crore through a combination of a fresh issue of 0.25 crore shares worth Rs 175 crore and an offer for sale of 0.46 crore shares valued at Rs 325.33 crore. Check out the key details of the public offering-
The allotment of shares will be finalised by next week, December 24 (Tuesday). As for the listing, the tentative date is set for December 27 (Friday). The bidding period will open on December 19 and conclude on December 23.
The company is witnessing subdued investor interest as indicated by its GMP (Grey market premium), which refers to the price level at which the company's shares are traded before hitting the bourses (National Stock Exchange and Bombay Stock Exchange).
It reflects the initial investor sentiment prior to its listing. As of 9:25 am, the shares of Concord Enviro were trading at a GMP of Rs 0, commanding a negligible premium.
The price band of the wastewater solution provider is fixed at Rs 665 to Rs 701 per share. The minimum application lot size is 21 shares. For retail investors, the minimum investment amount is Rs 14,721.
Motilal Oswal Investment Advisors Limited and Equirus Capital Private Limited are the book running lead managers of the initial public offering.
The company has witnessed strong growth in its key financial metrics. During FY23, the company recorded a single-digit PAT (profit after tax) of Rs 5.4 crore. However, in FY24, the figure stood at Rs 41 crore.
During the same periods, the company's revenue stood at Rs 512.27, a substantial rise from Rs 350.5 crore recorded in the previous fiscal.