Effwa Infra and Research IPO opens for subscription: Check issue size, price band, key dates & more

Effwa Infra and Research IPO (initial public offering) opened for subscription on Friday, July 5. The issue, which will conclude on July 9, has set a price band of ₹78 to ₹82 per scrip.

The ₹51.27 crore NSE SME IPO is a mix of fresh issuance of 53.16 lakh equity shares aggregating to ₹43.60 crore and the offer-for-sale (OFS) component of 9.36 lakh shares valued at ₹7.68 crore.

The promoters offloading their stake under the OFS are Dr Varsha Subhash Kamal and Subhash Ramavatar Kamal.

The funds generated from the issue will be utilised for capital expenditure requirement towards purchase of new office equipment, fund working capital requirements and for general corporate purposes.

Half of the net offer is set aside for qualified institutional buyers (QIBs), 35% is reserved for retail investors, and the remaining 15% is for non-institutional investors.

Effwa Infra and Research IPO: Timeline

• Bidding period: July 5 to July 9
• Allotment finalisation: July 10
• Refund initiation: July 11
• Demat transfer: July 11
• Listing: July 12

About Effwa Infra and Research Limited

Effwa Infra & Research provides engineering, procurement, construction, operation, and maintenance services for effluent and sewage treatment with water treatment, recycling, integrated municipal solid waste management (IMSWM), hazardous waste incineration, and lake bioremediation.

The company also offers end-to-end project management solutions for environmental preservation. Effwa Infra says that it is focused on environmentally friendly waste processing practices, including sewage treatment and reclamation (STP), effluent treatment plant management (ETP), water treatment and distribution and hazardous waste management.

Shreni Shares Limited is the book-running lead manager for the issue, while Bigshare Services Private Limited is the registrar. Rikhav Securities is the market maker.