Enviro Infra Engineers IPO Day 2: Issue subscribed 6.23 times so far; check lot size and key dates

Enviro Infra IPO: The initial public offering of Enviro Infra Engineers Ltd, a leading player in water and waste water treatment, has been subscribed 6.23 times on Monday, the second day of subscription.

The initial share sale got bids for 19,18,56,469 shares against 3,07,93,600 shares on offer. The non-institutional subscribed the most at 15.35 times, followed by retail investors at 4.70 times the subscription and qualified institutional buyers (QIBs) at 2.05 times the subscription.

The money generated will be used to meet working capital requirements, repay debt, fund the company’s subsidiary, finance inorganic growth, and for general corporate purposes.

Before the IPO, the company had raised ₹195 crore from anchor investors, including Quant Mutual Fund, Abakkus Diversified Alpha Fund-2, LIC Mutual Fund, Singularity Equity Fund I, Meru Investment Fund PCC Cell 1 and Motilal Oswal Mutual Fund.

Enviro Infra IPO: Lot size

Interested investors can apply for at least one lot or 101 shares worth ₹14,948. The firm has reserved 50% of the issue for QIBs, 35% for retail investors and 15% for NIIs.

Enviro Infra IPO: Allotment and listing date

• Subscription period: November 22 to November 26
• Allotment finalisation: November 27
• Refund initiation: November 27
• Demat transfer: November 28
• Listing: November 29

Enviro Infra IPO: About the company

In the past seven years, it has successfully developed 28 water and wastewater treatment plants (WWTPs) and water supply scheme projects (WSSPs). As of June 2024, its order book is valued at ₹1,906.2 crore.