Concord Enviro IPO Proceeds Utilization in Line with Objects

Concord Enviro Systems Ltd has submitted its Monitoring Agency Report from ICRA Limited for the quarter ended September 30, 2026. The report confirms that the utilization of the Initial Public Offer (IPO) proceeds is in line with the objects of the issue, with no material deviation. The total IPO size was ₹500.326 Crore, with net proceeds of ₹162.892 Crore (excluding issue-related expenses). Actual net proceeds were ₹162.076 Crore, reflecting a minor increase in offer-related expenditure. ICRA monitored ₹175.000 crore as of Q2 FY2027.