Concord Control Systems announces significant equity share issue

Concord Control Systems Limited announced a preferential issue of up to 238,500 fully paid-up equity shares, priced at INR 2,100 per share. This issuance is expected to raise approximately INR 50,08,50,000, subject to necessary approvals. The company, a leading manufacturer of embedded electronic systems, aims to strengthen its financial position and expand operational capacity with this capital infusion.

The preferential issue garnered strong support from both existing investors, including Ashish Rameshchandra Kacholia and Sanshi Fund group, and new entrant Sage One Flagship Growth Open-Ended Fund. This endorsement highlights investor trust in Concord's growth strategy and market potential within the automation sector.

The funds raised will accelerate expansion plans, facilitate investment in new technologies, and enhance production capabilities to meet growing market demand. Concord Control Systems is an RDSO-approved OEM and a technology leader in delivering advanced electrical and electronic systems for Indian Railways.