Concord Control Systems IPO Details & Guidance

Concord Control Systems IPO Listing information
Listed on 10 October 2022
Issue price Rs. 55
Listed at Rs. 109.95
High of Rs. 115.40
Closed at Rs. 115.40

Grey Market News for Concord Control Systems IPO #
On 10 October 2022, click

Concord Control Systems IPO Subscription Status
On 29 September 2022 @ 5.00 pm
QIB 50% 7,20,000 Shares: 15.18T
HNI 15% 2,16,000 Shares: 307.40T
RII 35%   5,02,000 Shares: 423.70T
Total     14,40,000 Shares: 202.21T

Concord Control Systems IPO Details
Anchor Portion to open on 26 September 2022
IPO Dates   27-09-2022 to 29-9-2022
Face Value  Rs 10 per share
IPO Price    Rs 53/55 per share
Lot             2000 Shares
Issue Size  15,12,000 shares of Rs 10
Issue           Rs 8.31 Cr)
# Fresh Issue 15,12,000 shares of Rs 10/Rs 8.31 Cr
# Offer for Sale NIL shares of Rs 10/ Rs NIL Cr
Issue Type Book Built IPO
Listing At BSE SME
Objects of the IPO
Funding additional Working capital requirements

Retail Offer: 35 % / 502,000 Shares
RII Min. Application: 2,000 Shares, Rs. 1,10,000
RII Max. Application: 2,000 Shares, Rs. 1,10,000
(?) Applications required for onetime RII-subscriptions.

Concord Control Systems IPO Timetable 
Anchor Portion to open on 26 September 2022
IPO Opening Date: September 27, 2022
IPO Closing Date: September 30, 2022
Basis of Allotment: October 05, 2022
Initiation of Refunds: October 06, 2022
Credit of Shares to Demat A/cs: October 07, 2022
IPO Listing Date: October 10, 2022

Concord Control Systems Business:

Concord Control Systems is engaged in the business of manufacturing and supply of coach related and electrification products for Indian Railways and other Railway Contractors. It manufactures products required in railway coaches like: Inter-Vehicular Coupler, Emergency Lighting System, Brushless DC carriage fan, Exhaust fans, Cable Jackets, Bellows etc. and products required in electrification of coaches and broad gauge network of Indian Railways like: Battery Charger 200 AH, Battery Charger 40 AH, Tensile Testing Machine. It is approved vendor by Research Design and Standards Organization (“RDSO”) to manufacture and supply these products for the Indian Railways.
The company started its operations in the year 2011 when it got approval to manufacture and supply battery charger in traction system of railway electrification.

Thereafter in the year 2014 it successfully received RDSO approval for manufacturing and supply of
Tensile Load Testing Machine for Porcelain & Composite Insulators before installation electrical lines. Eventually the company got approval to Supply Brushless Dc Carriage Fans to Indian railways when it changed its technology of fans from normal DC to Brushless DC. Over the years the company has successfully developed and is supplying a wide range of products.
Currently Concord Control Systems has two manufacturing units situated at Lucknow, Uttar Pradesh with total size admeasuring to over 1880 sq. meters. Its unit has a well-equipped laboratory, modern technology and testing equipment to ensure that the products confirm with the pre-determined standards. The Company has a research and development team dedicated towards developing new products or improving existing products. With its R&D capabilities, it is currently developing several new products. The company is in the process of developing product prototype of Control and Relay Panels and has received Capacity cum Capability Assessment certificate for the same from RDSO.

For more information about the company, Click Website: www.concordgroup.in

Service: To monetize their ad inventory of web channels
Promoters of Concord Control Systems
Mr. Nitin Jain and Mr. Gaurav Lath

Registered office of Concord Control Systems
G-36, U.P.S.I.D.C, Industrial Area, Deva Road, Chinhat, Lucknow-226019, Uttar Pradesh, India.
Company Secretary and Compliance Officer: Mrs. Lavisha Wadhwani

Lead Manager of Concord Control Systems
Hem Securities ltd

SME IPO Financial & Analytical Ratios#
Total Income 2019-20             Rs 15.89 Cr
Total Income 2020-21             Rs 17.61 Cr
Total Income 2021-22             Rs 31.74 Cr
Net Profit 2019-20                  Rs 1.05 Cr
Net Profit 2020-21                  Rs 1.43 Cr
Net Profit 2021-22                  Rs 2.59 Cr
Earnings per Share 2019-20   Rs 2.49
Earnings per Share 2020-21   Rs 3.41
Earnings per Share 2021-22   Rs 6.17
Return on Net Worth: 19-20: 29.83 %
Return on Net Worth: 20-21: 28.91 %
Return on Net Worth: 21-22: 34.35 % 
Book Value of the Share as on 31.03.22 Rs 17.95
NAV after the IPO Rs. 27,76
Offer Price Rs. 55 at upper price band

IPO Peer Comparison:
There are no listed companies in India that are engaged in a business similar to that of this company accordingly it is not possible to provide an industry comparison in relation to the company

Observation by Paresh Gordhandas (Research Analyst)

Being a SME company, the total income, the profits and the pricing of the IPO seems to be reasonable and there are good chances that the IPO bring in returns for the medium to long term investors

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