Enviro Infra Engineers IPO booked 2.07 times driven by NIIs, check day 1 subscription status and other key details

Enviro Infra Engineers Limited IPO was fully subscribed on the first day of bidding on Friday, November 22, driven by Non-Institutional Investors.

The investors across categories applied for over 6.38 crore shares against 3.07 crore shares on offer, leading to an overall subscription of 2.07 times, as per NSE data.

Qualified Institutional Buyers (QIBs) placed bids for more than 1.79 crore shares against 87.69 lakh shares set aside for them. The issue was subscribed 2.04 times in the category.

The mainboard issue was booked 1.70 times in the retail category. The retail investors placed bids for over 2.60 crore shares compared to the 1.53 crore shares reserved for them. The Non-Institutional Investors’ (NIIs) category saw the highest demand with a subscription of 2.98 times. The NIIs applied for 1.96 crore shares against 65.77 lakh shares set aside for them.

The employee quota of Enviro Infra Engineers IPO was booked 3.16 times. The employees applied for 3.16 lakh shares against 1,00,000 shares reserved for them.

Enviro Infra Engineers IPO: Offer size and price band

Enviro Infra Engineers Limited aims to raise ₹650.43 crore through its public issue. The mainboard issue consists of a fresh issue of 3.87 crore shares, amounting to ₹572.46 crore, along with an offer-for-sale (OFS) portion of 53 lakh shares, aggregating to ₹77.97 crore. The IPO price band has been fixed at ₹140 to ₹148 per share.

Retail investors interested in applying for the IPO can place bids for a minimum of 101 shares, which aggregates to a minimum investment of ₹14,948. Small Non-Institutional Investors (sNIIs) can apply for the issue by placing bids for a minimum of 14 lots, or 1,414 shares, which amounts to an investment of ₹2,09,272. Big Non-Institutional Investors (bNIIs) can bid for 67 lots or 6,767 shares aggregating to a minimum investment of ₹10,01,516.

Enviro Infra Engineers IPO dates

Enviro Infra Engineers IPO is scheduled to close on Tuesday, November 26. The IPO share allotment status is likely to be finalised on Wednesday, November 27.

After the finalisation of the share allotment status of the public issue, refunds will be initiated for unsuccessful bidders on Wednesday, November 27. Successful bidders will receive shares of the company in their Demat accounts on Thursday, November 28.

Shares of the company will be listed on the NSE and BSE. The tentative listing date for the company's shares is Friday, November 29.

Enviro Infra Engineers IPO Registrar

Enviro Infra Engineers’ book-running lead manager is Hem Securities Limited and the registrar for the issue is Bigshare Services Pvt Ltd.

Enviro Infra Engineers Promoters

The promoters of the company include Sanjay Jain, Manish Jain, Ritu Jain, and Shachi Jain. The promoters held a 93.66% stake in the company ahead of the issue.

Enviro Infra Engineers key financials

Revenue of Enviro Infra Engineers for Q1 FY25 stood at ₹207.46 crore and the company posted a profit-after-tax of ₹30.78 crore in the June quarter. The company's net worth stood at ₹323 crore at the end of the June quarter of FY25.

Its revenue for FY24 increased by over 116% to ₹738 crore compared to ₹341.66 crore in FY23. The company’s net profit for the fiscal ended March 31, 2024, was ₹110.54 increasing over 101% from ₹54.98 crore in the fiscal ended March 31, 2023. The net worth of the company increased nearly 131% to ₹292.18 crore from ₹126.51 crore in the preceding fiscal.

Enviro Infra Engineers IPO objective

The company plans to use the money raised via the public issue to meet its working capital requirements. A portion of the proceeds will be invested in the company’s subsidiary EIEL Mathura Infra Engineers Private Limited to build a 60 MLD STP in Uttar Pradesh through Hybrid Annuity Based PPP Mode. The proceeds will also be used for repayment of the company’s outstanding borrowings and for funding inorganic growth through acquisitions. The funds will also be used for general corporate purposes.

About Enviro Infra Engineers Limited

Enviro Infra Engineers Limited was established in 2009. The company is engaged in designing, constructing, operating and maintaining Waste-Water Treatment Plants (WWTPs) and Water Supply Projects (WSSPs). The company bids for tenders floated by state governments and Urban Local Bodies for developing WWTPs and WSSPs.