Enviro Infra Engineers IPO Open Tomorrow: What You Need to Know

The wastewater management firm plans to raise ₹650.43 crore, with ₹572.46 crore coming from the issuance of new shares. The book-built issue is set to list on the BSE and NSE. Here are the key details:

IPO Structure and Reservations

The offering will consist solely of fresh equity shares, with no existing shares being sold. 

The issue is divided into specific reservation categories with 50% of the total issue size is allocated for qualified Institutional Buyers.

About 35% is reserved for retail investors. Additionally, 15% of the issue will be allocated to Non-Institutional Investors (NIIs). 

For employees of the company, a special provision has been made with up to 100,000 shares reserved at a ₹13 discount to the issue price.

Price, Dates, and Key Information

The price band for the Enviro Infra Engineers IPO is set between ₹140 and ₹148 per equity share. The offering will open on November 22, 2024, and close on November 26, 2024.

 Enviro Infra aims to raise ₹650 crore, with investors required to bid for a minimum of 101 shares per lot, and in multiples of 101 shares thereafter. 

Share allotment is expected to be finalized by November 27, 2024, with the listing on the BSE and NSE scheduled for November 29, 2024. Bigshare Services Private Limited will serve as the registrar, while Hem Securities is the lead manager for the IPO.

Purpose of Funds

Enviro Infra Engineers will utilise ₹100 crore for debt repayment, while ₹30 crore will be directed towards the company’s subsidiary, EIEL Mathura Infra Engineers, for the development of a 60 million liters per day Sewage Treatment Plant (STP) in Mathura, Uttar Pradesh.

The remaining funds will be utilized to address the company’s working capital requirements, ensuring smoother operations and business growth.

Financial Highlight

The company reported a 116% growth in revenue and a 101% increase in profit after tax (PAT) for the financial year ending March 31, 2024, compared to the previous year ending March 31, 2023.

Company Overview

Enviro Infra Engineers, established in 2009, focuses on the design, construction, operation, and maintenance of Water and Wastewater Treatment Plants (WWTPs) as well as water supply projects (WSSPs) for government bodies and agencies.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.