Monitoring Agency Report for the quarter ended 30th June 2025
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Concord Enviro Systems has filed the quarterly Monitoring Agency Report prepared by ICRA Limited for Q1 FY2026, covering the use of its IPO proceeds raised in December 2024. The IPO had a total issue size of Rs. 500.33 crore, with a fresh issue of Rs. 175 crore and net proceeds of Rs. 162.08 crore (revised slightly down from Rs. 162.89 crore due to Rs. 0.82 crore higher actual issue expenses). Of this, Rs. 89.13 crore had been utilized by June 30, 2025, including Rs. 12.71 crore deployed during the quarter. The report confirms no deviation from the stated objects of the issue, and all project timelines are on schedule. The Rs. 50 crore allocated for prepayment of CEF borrowings has been fully completed.
This is a routine compliance filing with no negative findings — no deviation from IPO objects, no major delays, and no unfavorable events. Shareholders can take comfort that IPO funds are being deployed in line with the stated plan, though most capex objects (greenfield, brownfield, plant and machinery) are yet to see meaningful deployment, keeping a large chunk in fixed deposits earning 6.85%-7.25%.