Enviro Infra Engineers IPO Day 1: Check price band and other issue details here

The Enviro Infra Engineers IPO opens today, 22 November, 2024, for subscription and closes on November 26, 2024. The company aims to raise ₹650.43 with a mix of 3.87 crore new equity shares worth ₹572.46 crore and an offer-for-sale (OFS) of 0.53 crore shares valued at ₹77.97 crore by promoters and existing shareholders.

The price band of the Enviro Infra Engineers IPO is set at ₹140 to ₹148 per share. The minimum lot size for an application is 101 Shares with the minimum investment required by retail investors is ₹14,948. The Enviro Infra Engineers IPO allotment is expected to be finalised on 27 November, 2024 & the shares will be listed on BSE & NSE with a tentative listing date of 29 November, 2024.

The company intends to use the fresh issue proceeds for several purposes. These include meeting its working capital requirements and funding its subsidiary, EIEL Mathura Infra Engineers Private Limited, to construct a 60 MLD STP under the "Mathura Sewerage Scheme" in Uttar Pradesh through a Hybrid Annuity PPP Mode. Additionally, the funds will be used to repay or prepay certain outstanding borrowings and support inorganic growth through potential acquisitions and general corporate purposes.

Established in 2009, Enviro Infra Engineers Limited designs, constructs and maintains water and wastewater treatment plants (WWTPs) and water supply projects (WSSPs) for government agencies. The company has completed 28 projects, including 22 of 10+ MLD capacity. The company has skilled team of 180 engineers to deliver quality projects across India.