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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Investment in Concord Enviro FZE (UAE greenfield project)
Funding the wholly owned UAE subsidiary's new assembly facility.
Investment in Rochem Separation Systems (Vasai expansion)
Funding a brownfield expansion of the Vasai membrane manufacturing unit.
Capital expenditure on plant and machinery
Funding capital expenditure for the company's own plant and machinery.
Prepayment of Concord Enviro FZE borrowings
Repaying a portion of the UAE subsidiary's outstanding borrowings.
Working capital for Concord Enviro FZE
Funding working capital requirements of the UAE subsidiary.
Investment in Roserve Enviro joint venture
Funding the company's joint venture investment.
Technology and growth initiatives
Funding technology development and other growth initiatives.
General corporate purposes
The balance of net fresh issue proceeds after the specific objects above.
(₹ in Crore)
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Concord Enviro Systems Limited was incorporated in 1999 and provides water and wastewater treatment and reuse solutions, with a particular focus on zero liquid discharge technology that lets industrial clients recycle process water and minimise effluent. The company covers the full value chain in-house, from design and manufacturing to installation, commissioning, and ongoing operation and maintenance, and it uses internet-of-things based digital tools for remote monitoring and preventive upkeep of the plants it builds. Over more than two decades of operations the company has built a customer base spanning several hundred domestic clients and a smaller set of overseas clients, serving industries such as pharmaceuticals, specialty chemicals, food and beverage, defence and energy, automotive and auto components, steel, and textiles. It has extended its footprint outside India through a wholly owned subsidiary in the UAE, Concord Enviro FZE, and it also operates a membrane manufacturing unit through its Indian subsidiary Rochem Separation Systems, which reduces dependence on external suppliers for a key input. Growth is being driven by expanding in-house membrane production, deeper adoption of IoT-enabled monitoring across its installed base, and geographic expansion including a new assembly facility in the UAE and a brownfield expansion of the Vasai manufacturing unit. The company has also entered a joint venture, Roserve Enviro, to pursue further growth in the water treatment and recycling space, and continues to invest in new treatment technologies to widen its addressable market.
The company raised about Rs 150 crore from anchor investors ahead of the issue opening, allotting roughly 21.4 lakh shares at the upper price band of Rs 701 per share. Domestic mutual funds including ICICI Prudential, Kotak Mahindra, Bandhan, Invesco India, PGIM India and LIC contributed around Rs 102 crore, while overseas investors including Morgan Stanley, Societe Generale and BNP Paribas Financial Markets accounted for the remaining roughly Rs 48 crore.
Source: RHP • Analysis provided for informational purposes
Last Updated: 14 July 2026, 5:30 AM
Zero liquid discharge expertise
The company has built specialised technical know-how in zero liquid discharge water treatment, backed by an in-house R&D effort that supports new solution development.
Full value chain integration
It designs, manufactures, installs and maintains its systems in-house, which gives it tighter control over quality, delivery timelines and after-sales service compared to peers who outsource parts of the chain.
In-house membrane manufacturing
Owning membrane production through its subsidiary lowers input costs and supports more cost-effective wastewater reuse systems for clients.
Digital monitoring capability
IoT-enabled remote monitoring allows preventive maintenance of installed plants, which can reduce downtime and strengthen long-term customer relationships.
Sticky customer relationships
A large share of revenue comes from repeat business with long-standing clients, reflecting the recurring, service-heavy nature of water treatment contracts.
Manufacturing concentration
Reliance on a limited number of manufacturing facilities leaves the business exposed to equipment breakdowns or other facility-specific disruptions.
Underutilised capacity
Operating below full capacity keeps fixed costs elevated relative to output, which can weigh on profitability until utilisation improves.
Customer concentration
A meaningful share of revenue is tied to its largest customers, so the loss, delay or cancellation of orders from any of them could hurt results.
Concord Enviro Systems Limited
Company contact details are not available.
MUFG Intime India Private Limited
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Raw material supply risk
Disruptions in the availability or pricing of key raw materials used in its systems could affect margins and delivery schedules.
Dependence on continued R&D
The business needs to keep investing in new treatment technology to stay competitive, and a slowdown in that effort could erode its edge over time.
Past regulatory lapse on loans
The company has disclosed a past instance of non-compliance with the Companies Act relating to unsecured loans, which carries some residual risk of financial or regulatory consequences.