India's Concord Enviro Systems jumps 23% in debut trade

Concord Enviro Systems

27/12/2024 09:24

** Concord Enviro Systems  COND.NS  soars as much as 22.7%
to 860 rupees on its first day of trading; the IPO was
oversubscribed by 10.67 times 
    ** The wastewater treatment solutions firm's stock opened at
826 rupees, nearly 18% higher than its IPO price of 701 rupees 
    ** COND's IPO consisted of a 1.75 bln rupees ($20.5 mln)
worth fresh issue of shares, and the offer for sale included 4.6
mln shares 
    ** IPO proceeds will be used for investment in units for
expansion and development of projects, to fund growth
initiatives and general corporate purposes - COND
    ** Stock last up 18.4% 



($1 = 85.5400 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))