Enviro Infra Engineers IPO Opens November 22: Details to Know

Enviro Infra Engineers, a well-known name in water and wastewater treatment solutions, is set to launch its initial public offering (IPO) on Friday, November 22, 2024, with the subscription window open until Tuesday, November 26, 2024. Anchor investor bidding will take place a day earlier, on Thursday, November 21, 2024. 

IPO Details

Objectives & Financials

The company aims to raise funds through a fresh issue of 3.87 crore shares and an offer for sale (OFS) of 52.68 lakh shares, where promoters Sanjay Jain, Manish Jain, Ritu Jain, and Sachi Jain will divest a part of their holdings. The price band for the Enviro Infra Engineers IPO is set at Rs.140-148 per share, and investors can bid for a minimum of 101 shares (lot size), requiring a minimum investment of Rs.14,948.

Proceeds from the fresh issue will fund working capital requirements, investment in its subsidiary EIEL Mathura Infra Engineers, repayment of borrowings, acquisitions, and corporate purposes. The company reported a 110% increase in net profit for FY24 at Rs.110.54 crore, compared to Rs.54.97 crore in FY23. Revenue grew 116% year-on-year to Rs.738 crore, showcasing good financial growth.

About the Company

Founded in 2009, Enviro Infra Engineers specializes in developing water and wastewater treatment plants for government agencies, completing 28 projects across India by June 2024. Its strengths lie in in-house execution, advanced technologies, and experienced management.

Conclusion: Enviro Infra Engineers’ IPO brings out the company’s growth and market potential. Prospective investors should assess the financials and long-term objectives before making investment decisions.

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.