New Delhi: The initial public offering (IPO) of Enviro Infra Engineers closes for public subscription on November 26, 2o24, i.e Tuesday. It may be noted that the GMP of the IPO of Enviro Infra has jumped significantly. The company is engaged in the business of development of turnkey projects of sewage treatment plants and sewerage system. The company collected about Rs 195 crore from anchor investors.
Enviro Infra Engineers IPO received a subscription of 12.51 times on the second day of subscription on November 25, 2024. The NSE data showed that the initial share sale received bids for 38,52,17,131 shares against 3,07,93,600 shares on offer.
Non-institutional investors category received 34.59 times subscription.
Retail Individual Investors (RIIs) fetched 8.71 times subscription.
Qualified Institutional Buyers (QIBs) portion was subscribed 2.58 times.
The Rs 650-crore initial share sale of Enviro Infra Engineers IPO has a the price range of Rs 140-148 apiece. The initial public offering is a combination of a fresh issue of 3.87 crore equity shares and an offer for sale (OFS) component of 52.68 lakh shares by promoters. Promoters have 93 per cent stake in the firm.
Enviro Infra Engineers Allotment expected date November 27, 2024. The share are likely to be credited to the eligible demat accounts on November 28 and the stock will list on BSE and NSE with a tentative date on November 29.
Enviro Infra Engineers IPO GMP
Enviro Infra Engineers IPO GMP stood at Rs 48, as per the investorgain data on November 26 early morning. With the price band of Rs 148, Enviro Infra Engineers shares are expected to be listed at Rs 196, which indicates a gain of 32.43 per cent.
In its papers submitted to the Securities and Exchange Board of India (Sebi), Enviro Infra Engineers Proceeds declared that the proceeds from the public offer to the tune of Rs 181 crore will be used to meet the working capital requirements. The company mentioned that it would spend Rs 100 crore for clearing the debt, Rs 30 crore is aimed at investing into the company’s subsidiary EIEL Mathura Infra Engineers to build 60 million litres per day sewage treatment plant (STP) at Mathura in Uttar Pradesh. Some part of the money will be used for general corporate purposes.
Enviro Infra Engineers IPO Good or Bad: Brokerages include, Capital Market, Indsec Securities and Swastika Investmart Ltd have recommended investors to apply for the IPO.
What does Enviro Infra Engineers do
Enviro Infra Engineers business include operation, designing, and maintenance of water and wastewater treatment plants. The services also include water supply scheme projects for government authorities/bodies.
Enviro Infra Engineers IPO book running lead manager: Hem Securities Limited. Bigshare Services Pvt Ltd is the registrar for the issue.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Enviro Infra Engineers IPO subscription ends on November 26, 2024. Enviro Infra IPO GMP indicates that the shares are listed with gains of over 32 per cent. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
