Motilal Oswal Investment Advisors Ltd. and Equirus Capital Pvt. are the lead book running managers for the issue.

The company had previously approached SEBI with IPO papers in 2022 and received the regulator’s clearance. However, it did not go ahead with the maiden public issue.

Proceeds from the IPO of up to Rs 25 crore will be invested in Concord Enviro FZE (CEF) for setting up a new assembly unit for water treatment systems, and Rs 10.505 crore will be invested in Rochem Separation Systems (India) Pvt. to expand its manufacturing facilities and support activities.

Concord Enviro Systems is a global provider of water and wastewater treatment and reuse solutions. It has in-house capabilities to develop solutions across the entire value chain, including for designing, manufacturing, installing, and commissioning, operating and maintenance, and digitalisation solutions, including Internet-of-Things.

The company exports to countries in North America, Latin America, Africa, the Middle East, and Southeast Asia, serving 377 customers worldwide.