Concord Enviro Systems Reports Proper Utilization of IPO Funds in Q2 FY2026
Concord Enviro Systems Limited has reported no material deviation in the utilization of its IPO proceeds for the quarter ended September 30, 2025. The company raised INR 175.00 crore through its IPO in December 2024, with actual net proceeds of INR 162.08 crore. Of this, INR 91.63 crore has been utilized across various objectives including repayment of subsidiary borrowings, working capital requirements, technology initiatives, and general corporate purposes. The remaining INR 85.59 crore is invested in fixed deposits. ICRA Limited, the monitoring agency, confirmed all projects are on schedule.
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Concord Enviro Systems Limited , a player in the waste water treatment sector, has reported no material deviation in the utilization of its Initial Public Offering (IPO) proceeds for the quarter ended September 30, 2025. The company's monitoring agency report, issued by ICRA Limited, confirms that the fund utilization is in line with the stated objectives of the issue.
IPO Fund Details
The company raised INR 175.00 crore through its IPO in December 2024, with actual net proceeds amounting to INR 162.08 crore. Here's a breakdown of the fund utilization:
| Particulars | Amount (INR Crore) |
|---|---|
| Total IPO Proceeds | 175.00 |
| Actual Net Proceeds | 162.08 |
| Utilized Funds | 91.63 |
| Unutilized Funds | 83.37 |
Fund Utilization
The company has deployed the IPO proceeds across various objectives:
| Objective | Amount Utilized (INR Crore) |
|---|---|
| Repayment of borrowings by subsidiary Concord Enviro FZE | 50.00 |
| Working capital requirements | 5.00 |
| Technology and growth initiatives | 4.77 |
| General corporate purposes | 19.85 |
Investment of Unutilized Funds
Concord Enviro Systems has invested the unutilized funds totaling INR 85.59 crore in fixed deposits with ICICI Bank. These deposits offer interest rates ranging from 4.50% to 7.25%.
Project Status
ICRA Limited, the monitoring agency, has confirmed that all projects are on schedule. The company is progressing as per the timeline mentioned in the prospectus for various initiatives, including:
- Developing an assembly unit for water and wastewater treatment systems
- Expanding manufacturing facilities of its subsidiary, Rochem Separation Systems (India) Private Limited
- Funding working capital requirements
- Investing in technology and growth initiatives
Management Commentary
Prerak Goel, Executive Director of Concord Enviro Systems Limited, stated in the filing, "We are pleased to report that our fund utilization is in complete alignment with the objectives stated in our IPO prospectus. This reflects our commitment to transparent and efficient use of investor funds."
The company also held a conference call with investors on November 10, 2025, to discuss the results for the quarter and half year ended September 30, 2025. The audio recording of this call is available on the company's investor relations website.
As Concord Enviro Systems continues to execute its growth plans, investors will be keen to observe how effectively the company utilizes the remaining IPO proceeds to drive its expansion in the waste water treatment sector.
Historical Stock Returns for Concord Enviro Systems
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.53% | -1.61% | +20.21% | -19.92% | -38.79% | -44.99% |
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