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  5. Enviro Infra Engineers IPO debuts at 49% premium, shares up by 3.6% on listing day

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Enviro Infra Engineers IPO debuts at 49% premium, shares up by 3.6% on listing day

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By Vani Dua

3 min read | Updated on November 29, 2024, 13:28 IST

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SUMMARY

Enviro Infra Engineers made the biggest mainline IPO debut in November on Friday as its shares listed at a premium of up to 49% on the bourses. The shares listed at ₹220 on the NSE and ₹218 on the BSE against its listing price of ₹148 per share.

The IPO was booked almost 90 times with receiving bids for more than 276.83 crore shares against the 3.07 crore shares on offer

The IPO was booked almost 90 times with receiving bids for more than 276.83 crore shares against the 3.07 crore shares on offer

Shares of Enviro Infra Engineers Ltd, a sewage treatment solutions providing company, listed at a premium of 48.64% at ₹220 on the NSE on Friday, November 29, against the issue price of ₹148 apiece. On the BSE, the stock listed at a 47.29% premium at ₹218.

The shares of the company hit the intraday high of ₹233.70 per share on the NSE. The stock was trading 3.61% below at ₹212.05 apiece on the NSE at 12:40 pm on Friday. The market capitalisation of the company stood at ₹3,733.87 crore.

Enviro Infra Engineers IPO

The initial public offering (IPO) of Enviro Infra Engineers worth ₹650.43 crore consists of a fresh issue of 3.87 crore shares, totalling ₹572.46 crore, and an offer-for-sale (OFS) component of 53 lakh shares, amounting to ₹77.97 crore. The price band for the IPO was fixed at ₹140 to ₹148 per share.

The bidding for the IPO opened on November 22 and closed on November 26.

A part of the proceeds from the fresh issue of the IPO, approximately ₹181 crore, will be used to meet working capital requirements. From the remaining funds, ₹100 crore will be put towards repayment of debt and ₹30 crore will be invested in the company’s subsidiary EIEL Mathura Infra Engineers for building a sewage treatment plant (STP) at Mathura, Uttar Pradesh with a capacity of 60 million litres per day. Moreover, a portion will be used for general corporate purposes.

The mainboard issue was booked almost 90 times with receiving bids for more than 276.83 crore shares against the 3.07 crore shares on offer. The retail portion was booked 24.4 times with bids received for 37.5 crore shares as compared to 1.53 crore shares on offer.

From the 65.77 lakh shares set aside for the Non-Institutional Investors (NIIs) category, the IPO received bids for over 101.15 crore shares, resulting in a subscription of 153.8 times. Additionally, the QIBs segment of the IPO was booked 157.05 times, receiving bids for more than 137.72 crore shares against 87.69 lakh shares on offer.

About the company

Enviro Infra Engineers is engaged in designing, constructing, operating and maintaining Waste-Water Treatment Plants (WWTPs) and Water Supply Projects (WSSPs) for government bodies. The process of treatment at most of the STPs has a zero liquid discharge-compliant feature, and the treated water can then be used for various purposes including horticulture, washing, refrigeration and other industry processes.

With PTI inputs

About The Author

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Vani Dua is a journalism graduate from LSR College, Delhi. She is passionate about news and presently covers markets, business, economy, and other related fields. She is an avid reader and loves to spend her time weaving stories in her head.

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