Concord Enviro IPO Day 1: Check Subscription Status, GMP Today

Concord Enviro IPO: The initial public offering of environmental engineering solutions firm Concord Enviro Systems Ltd opened for public subscription on Thursday. The price band of the IPO has been fixed in the range of Rs 665 to Rs 701 per share. Till 12:30 pm on the first day on Thursday, the IPO received a 0.31 times subscription garnering bids for 15,57,234 shares as against the 50,15,356 shares on offer.

So far, the retail category has received a 0.56 times subscription, while the non-institutional category (NII) got a 0.13 times subscription.

As per market observers, the unlisted shares of Concord Enviro Ltd are trading at Rs 771 in the grey market, reflecting a premium of Rs 70 (9.99%) over the upper price band of Rs 701. This indicates a positive listing gain for investors on December 27.