Mukul Agrawal holds 3.81% stake; Ashish Kacholia holds 1.21% stake & Asha Mukul Agrawal bought 95,542 shares: Company acquires 10% stake in Advanced Rail Controls

Concord Control Systems Limited's Board of Directors, at their meeting, approved the preferential allotment of 24,681 fully paid-up equity shares. Each share has a face value of Rs. 10 and was issued at an issue price of Rs 1,418.08, including a security premium of Rs 1,408.08. This allotment was made to a Non-Promoter Allottee for a consideration other than cash, specifically towards the Rs 3.5 crore purchase of up to 3,06,400 equity shares of Advanced Rail Controls Private Limited, representing 10 per cent of its equity share capital.

Following this allotment, Concord Control Systems Limited's paid-up capital increased from Rs. 6,30,04,720 (6,300,472 equity shares) to Rs 6,32,51,530 (63,25,153 equity shares). The Board has authorised key personnel, including Mr. Gaurav Lath (Joint Managing Director/CFO), Mr. Nitin Jain (Joint Managing Director), and Ms. Puja Gupta (Company Secretary and Compliance Officer), to handle all necessary formalities for the creation of ISIN for the new equity shares and related submissions to regulatory bodies. This issuance falls under a private placement as per the Companies Act, 2013, and SEBI (ICDR) Regulations, 2018.

About the Company

Concord Control Systems Ltd, incorporated in 2011, is a key player in the electrical machinery sector, primarily serving Indian Railways. The company is ISO 9001:2015 certified and recognised as an OEM and RDSO-approved manufacturer. Concord's product portfolio spans railway electrification and coaching, including battery chargers, control panels, testing machines, emergency lighting, and fans. The company is transitioning from a product supplier to a solution provider, with ongoing development of a prototype for control and relay panels. Concord operates manufacturing facilities in Lucknow, Bengaluru, and Hyderabad, and serves both government and private clients, including major entities like Rail Coach Factory Kapurthala and Larsen & Toubro. As of H1FY25, Concord's order book stands at Rs 206 crore, reflecting a steady growth trajectory. The company has made strategic investments, acquiring stakes in Progata India Pvt. Ltd and Concord Lab to Market Innovations Private Limited, and aims for a 40 per cent to 50 per cent year-on-year growth in FY25.

On Tuesday, the shares of Concord Control Systems Limited jumped 7.31 per cent to Rs 1,788.90 per share from its previous closing of Rs 1,667. The 52-Week High is Rs 2062.05 per share and the 52-Week Low is Rs 971.15 per share. Concord Control Systems Limited has a market capitalisation of over Rs 1,100 crore. 2 ace investors, Mukul Mahavir Agrawal, hold 2,40,000 shares or a 3.81 per cent stake and Ashish Kacholia holds 76,433 shares or a 1.21 per cent stake in the company. Additionally, Asha Mukul Agrawal (wife of Mukul Mahavir Agrawal) bought 95,542 shares or a 1.52 per cent stake. The stock is up by 84.2 per cent from its 52-week low of Rs 971.15 per share and has given multibagger returns of over 400 per cent in 2 years.  

Disclaimer: The article is for informational purposes only and not investment advice.