2 Jul 2022 , 12:44 PM
The issue, with a face value of Rs5 per equity share, consists of a fresh issue of equity shares worth up to Rs175 crore and an offer-for-sale (OFS) of up to 3,569,180 equity shares by the Promoter and selling shareholders, which includes up to 3,114,660 by AF Holdings, up to 150,600 by Prayas Goel, up to 150,500 equity shares by Prerak Goel, up to 29,500 equity shares by Namrata Goel, up to 92,420 shares by Pushpa Goel, and up to 31,500 shares by Nidhi Goel.
The proceeds from its new issuance of Rs18 crore will be utilized to fund the construction of an assembly unit in Sharjah International Airport Free Zone, Rs30 crore in Rochem Separation Systems (India) Private Limited (RSSPL) for meeting its working capital requirements, and Rs30 crore in investment in its Material Subsidiary, CEF for working capital requirements.
Furthermore, the company may consider a rights issue, private placement, preferential issue of equity shares, or any other method aggregating up to Rs35 crore in consultation with merchant bankers to this issue. If the company completes such a placement, the issue size will be reduced accordingly.
The Offer is being made through the Book Building Process, in which not less than 75% of the Offer is available for allocation to Qualified Institutional Buyers, not more than 15% of the Offer is available for allocation to Non-Institutional Bidders, and not more than 10% of the Offer is available for allocation to Retail Individual Bidders.
Concord Enviro has an in-house position across the value chain including design, component manufacturing, installation and commissioning, operation and maintenance (O&M), including digitalization solutions such as Internet of Things (IoT) technology for customer data analysis.
According to a Frost & Sullivan report commissioned by the company, the Mumbai-based company is the second-largest Indian solutions provider for industrial water recycle and reuse systems in Fiscal 2021. Further, in fiscal 2021, it was the largest provider of Zero-liquid discharge (ZLD) solutions in India in terms of revenue. Through its recycling solutions, it aided its clients to achieving water conservation and sustainability.
The companies' revenue from operations stood at Rs347.60 crore for FY21, down from Rs383.21 crore for the same period the previous year dragged down by post-COVID-19-related restrictions. Profit after tax more than doubled to Rs19.81 crore for FY21, up from Rs7.86 crore for FY20. Revenue from operations was Rs219.37 crore for the nine months ending December 2021, and profit after tax was Rs3.03 crore.
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