An environment solutions generating firm Concord Enviro Systems, presenting an idea of raising funds through IPO (Initial Public Offering), has received a pass from Sebi. The IPO follows a new issue of equity shares weighing ₹175 crore, alongside a 35 million shares offer-for-sale (OFS) proposed by promoters and an investor, according to the file submitted to Draft Red Herring Prospectus (DRFP). It reads profits from the issue to be invested in its younger initiative Concord Enviro FZE.
