Concord Enviro Systems, an environmental engineering solutions firm, on Monday said it has set a price range of Rs 665-701 per share for its initial share-sale, which will open for public subscription on December 19.

 The initial share-sale is scheduled to close on December 23 and the bidding for anchor investors will open for a day on December 18, the company announced.

 The proposed IPO comprises a fresh issuance of equity shares worth Rs 175 crore and an Offer For Sale (OFS) of 46.41 lakh equity shares valued at Rs 325.33 crore, at the upper end of the price band, by promoters and an investor. This aggregates the issue size to Rs 500.33 crore

 Those selling shares in the OFS are, promoters --Prayas Goel and Prerak Goel, promoter groups -- Namrata Goel, Nidhi Goel and Pushpa Goel-- and investor AF Holdings.

 Proceeds from the fresh issue will be invested in Concord Enviro FZE (CEF) for setting up a new assembly unit for water treatment systems as well as its working capital requirement.

 Additionally, funds will be invested in Rochem Separation Systems (India) Private Ltd to expand its manufacturing facilities and support activities, payment of debt, technology and growth initiatives, working capital requirements and for general corporate purposes.

 At the upper end of the price band, the company's market capitalisation has been pegged at Rs 1,450 crore.

 Half of the issue has been reserved for qualified institutional buyers, 35 for retail investors and the remaining 15 per cent for non-institutional investors. Concord Enviro Systems is an integrated solutions provider for industrial waste water reuse and zero liquid discharge solutions, with an in-house position across the value chain. The company's reach extends to diverse regions with exports to countries in North America, Latin America, Africa, the Middle East, and Southeast Asia.

 Motilal Oswal Investment Advisors and Equirus Capital are the book running lead managers to the issue. The equity shares of the company are expected to be listed on December 27 on the NSE and BSE.