Concord Enviro Systems Limited — Others, 14-05-2025: Monitoring Agency Report

Concord Enviro Systems has announced that ICRA Limited’s Monitoring Agency Report found no material deviation in the use of IPO proceeds totaling Rs. 162.08 Cr (net of expenses). The funds are being deployed across greenfield and brownfield projects in subsidiaries, working capital, technology initiatives, and general corporate purposes. Rs. 25 Cr has been allocated to a new assembly unit, and Rs. 50 Cr used to repay borrowings. Around Rs. 98.58 Cr remains invested in fixed deposits with yields of 6.5-7.25%. Project timelines are progressing as planned, supporting the company’s expansion strategy.