Enviro Infra Engineers Sees 0.42x Subscription on Day 1 Until 1:00 PM

Enviro Infra Engineers IPO opened for subscription today and will close on November 26, 2024. The public offering is priced between ₹140 and ₹148 per share. It is available for subscription from November 22, 2024, to November 26, 2024.

Enviro Infra Engineers IPO Subscription Status

On Day 1, November 22, 2024, as of 1:00 PM, the IPO was subscribed 0.42 times. The retail category was subscribed 0.49x, the NII category was 0.72x and the employee category was subscribed 0.96x.

The book-built offering is set to be listed on both the BSE and NSE, with the anticipated listing date scheduled for November 29, 2024. Investors can expect share allocation to take place on November 27, 2024, which falls on Wednesday of the upcoming week.

The company plans to raise ₹650.43 crore through the public offering, which includes both fresh shares and an Offer for Sale (OFS). Of this amount, ₹572.46 crore is expected to be raised by issuing fresh shares.

Enviro Infra Engineers plans to allocate ₹100 crore towards repaying its debt, while ₹30 crore will be invested in its subsidiary, EIEL Mathura Infra Engineers, to develop a 60 million litres per day Sewage Treatment Plant (STP) in Mathura, Uttar Pradesh.

About Enviro Infra Engineers 

Enviro Infra Engineers is a company specialising in providing innovative solutions for environmental management, focusing on infrastructure projects that promote sustainability. Their services include waste management, water treatment, and pollution control, aimed at enhancing environmental quality.

With a strong commitment to delivering eco-friendly solutions, the company has built a solid reputation for executing projects that meet regulatory standards while promoting green practices. Through its expertise and dedication, Enviro Infra Engineers plays a key role in supporting the growing demand for sustainable development in various industries.

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.