Concord Control Systems has announced the completion of a preferential share allotment to prominent investor Ashish Kacholia. The SME-listed company has allotted 24,000 shares at a price of ₹2100 per share through this strategic allocation.

Share Allotment Details

The preferential allotment represents a significant investment in the company, with the transaction details outlined below:

Strategic Investment

The allotment to Ashish Kacholia, a well-known investor in the small and mid-cap segment, represents a vote of confidence in Concord Control Systems' business prospects. Preferential allotments are typically made to strategic investors who can bring value beyond just capital investment.

Company Profile

Concord Control Systems operates as an SME-listed entity, focusing on control systems and related technologies. The successful completion of this preferential allotment demonstrates the company's ability to attract quality investors and raise capital for its growth initiatives.

The transaction strengthens the company's capital base and provides additional resources for business expansion and operational requirements. The involvement of an experienced investor like Kacholia could also bring strategic guidance and market credibility to the organization.

Concord Control Systems has secured a major contract worth approximately ₹47.00 crores for green hydrogen locomotive technology through its wholly owned subsidiary Advanced Rail Controls Private Limited. The contract was awarded by NTPC Limited for supplying equipment for a 3100 HP Green Hydrogen Fuel Cell Locomotive.

Contract Details

The comprehensive contract encompasses the supply of all plant and equipment required for a Green Hydrogen Fuel Cell Locomotive (Retrofitted) designated for operation at NTPC SIPAT. This represents a significant entry into the sustainable rail transportation sector for the company.

Subsidiary Involvement

Advanced Rail Controls Private Limited, the wholly owned subsidiary of Concord Control Systems, will execute this contract. The subsidiary specializes in rail control systems and has been selected to deliver the complete plant and equipment package for this innovative green hydrogen locomotive project.

Strategic Significance

This contract marks Concord Control Systems' entry into the emerging green hydrogen rail technology sector. The project involves retrofitting locomotive technology with green hydrogen fuel cell systems, aligning with India's sustainable transportation initiatives and NTPC's commitment to clean energy solutions.

Regulatory Compliance

The company has confirmed that this contract does not involve any related party transactions and has been executed at arm's length. Additionally, the promoter group has no interest in NTPC Limited, ensuring complete transparency in the business arrangement.

The contract execution timeline of 18 months provides a clear roadmap for project completion, positioning Concord Control Systems as a key player in India's transition toward sustainable rail transportation technology.