Concord Enviro Systems filed draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
Proceeds from the fresh issue will be used for investment in the company's arm Concord Enviro FZE in relation to financing the construction of an assembly unit in Sharjah International Airport Free Zone, investment in subsidiary Rochem Separation Systems (India) for funding its working capital requirements, payment of debt and general corporate purpose. DAM Capital Advisors and Equirus Capital are the book-running lead managers to the issue.
Concord Enviro Systems is an integrated solutions provider for industrial wastewater reuse and zero liquid discharge solutions, with an in-house position across the value chain.
