The company has set a price band of ₹140-148 per share for its IPO. Through this offering, Enviro Infra aims to raise ₹650 crore.
Investors can bid for a minimum of 101 shares in a lot and in multiples of 101 shares thereafter.
The city-based company’s proposed IPO is a combination of a fresh issue of 3.87 crore equity shares and an offer-for-sale (OFS) component of 52.68 lakh shares by promoters.
At present, promoters hold over 93% stake in Enviro Infra Engineers.
The proceeds from the fresh issue to the tune of Rs 181 crore will be utilised to meet the working capital requirements, Rs 100 crore for payment of debt, Rs 30 crore will be infused into the company’s subsidiary, EIEL Mathura Infra Engineers, to build 60 million litres per day Sewage Treatment Plant (STP) at Mathura in Uttar Pradesh.
Besides, a portion will be used for general corporate purposes.
As much as 50% of the issue size has been reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
Enviro Infra Engineers IPO will remain open for public subscription until November 26. The bidding for anchor investors will open for a day on November 21.
Enviro Infra Engineers was established in 2009 and is engaged in the design, construction, operation, and maintenance of water and Waste-Water Treatment Plants (WWTPs) and water supply projects (WSSPs) for government agencies or entities.
The company’s revenue increased by 116% and profit after tax (PAT) rose by 101% between the financial year ending with March 31, 2024 and March 31, 2023.
Hem Securities Ltd is the book running lead manager of the Enviro Infra Engineers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
The allotment for the IPO is expected to be finalised on November 27, while Enviro Infra will list on BSE, NSE with tentative listing date fixed as November 29, 2024.
