Concord Enviro Systems IPO
Concord Enviro Systems Limited (CEWATER) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 27 December 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +5.0% (likely range -10% to +11%), day's high +7.6%, chance of a gain 50%. Actual: +17.8% at the open, +22.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 13,79,122 | 2,38,82,166 | 17.3x | |
| NII (HNI) total | 10,90,870 | 1,54,88,928 | 14.2x | |
| Big NII (above ₹10 lakh) | 7,27,247 | 1,02,48,252 | 14.1x | |
| Small NII (₹2-10 lakh) | 3,63,623 | 52,40,676 | 14.4x | |
| Retail | 25,45,364 | 1,41,63,492 | 5.56x | |
| Total | 50,15,356 | 5,35,34,586 | 10.7x |
Bids on NSE and BSE together, as published by NSE, as of 23 Dec 2024, 07:00 PM. Shares offered exclude the anchor portion. 23% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Concord Enviro Systems's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Signatureglobal (India)Sep 2023 | 12.7x | 13.5x | 6.82x | 11.9x | ₹794 Cr | +15.3% | +23.1% |
| Muthoot MicrofinDec 2023 | 17.5x | 13.2x | 7.61x | 11.5x | ₹1,009 Cr | -5.4% | -3.4% |
| Zaggle Prepaid Ocean ServicesSep 2023 | 16.7x | 8.85x | 5.94x | 12.6x | ₹574 Cr | 0.0% | +7.3% |
| Gopal SnacksMar 2024 | 17.5x | 9.50x | 4.01x | 9.02x | ₹685 Cr | -12.5% | -4.0% |
| Larsen & Toubro InfotechJul 2016 | 19.9x | 10.8x | 7.39x | 11.7x | ₹1,242 Cr | -6.1% | 0.0% |
| Future Supply Chain SolutionsDec 2017 | 12.4x | 11.2x | 3.28x | 7.56x | ₹650 Cr | 0.0% | +5.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
| Equirus Capital | 34 | +21.3% | 74% |
Offer documents (NSE)
Frequently asked
What is the Concord Enviro Systems IPO price band and lot size? ₹665–701 per share, with a lot of 21 shares, so the smallest retail bid is ₹14,721.
How many times has it been subscribed? 10.7x overall: QIB 17.3x, NII 14.2x, retail 5.56x.
How did it list? It opened at ₹826, +17.8% against the issue price of ₹701, and closed its first day +18.0%.
