The much-anticipated IPO of Enviro Infra Engineers Ltd has officially hit the primary market today, November 22. The public issue, worth ₹650.43 crore, will remain open for subscription until November 26. This wastewater management company has set its IPO price band between ₹140 and ₹148 per equity share, presenting an attractive opportunity for investors.
IPO Structure and Objectives
The IPO is a mix of:
- Fresh Issue: ₹572.46 crore (38.68 million shares)
- Offer for Sale (OFS): ₹77.97 crore (5.27 million shares)
The funds raised will support business growth and provide an exit opportunity for existing stakeholders through the OFS.
Anchor Investor Success
On November 22, Enviro Infra Engineers secured ₹194.6 crore from anchor investors, as per its BSE filing. The allocation of 1.31 crore shares at ₹148 per share attracted 22 institutional investors, including mutual fund schemes.
Subscription Status as of Day 1
By 5 PM, the IPO showed strong demand:
- Retail Individual Investors (RII): 2,60,90,825 shares
- Qualified Institutional Buyers (QIB): 1,79,29,419 shares
- Non-Institutional Investors (NII): 1,96,16,523 shares
Grey Market Premium (GMP)
Enviro Infra Engineers’ shares are witnessing a 26% premium in the grey market, with shares trading at ₹187 apiece, a ₹39 hike over the upper price band of ₹148. This strong trend underscores high investor confidence.
Read more: Mutual Funds vs Index Funds vs ETFs
Enviro Infra Engineers Business Overview
The company specializes in wastewater management solutions, a sector poised for growth amid increasing focus on environmental sustainability. Its robust track record and growing market presence make it a promising candidate for long-term investors.
Why Should You Invest?
- Growth Potential: A rising demand for wastewater management solutions aligns with government policies.
- Financial Backing: The IPO’s fresh issue will bolster expansion plans and strengthen financial health.
- Strong Market Sentiment: The impressive GMP reflects significant investor interest.
Read more: How to Buy Shares from Grey Market: Step-by-Step Guide
How to Apply?
Interested investors can apply through:
- Online trading platforms via UPI mandate.
- Banking apps offering ASBA services.
IPO Details Summary
- Price Band: ₹140-₹148
- Fresh Issue: ₹572.46 crore
- OFS: ₹77.97 crore
- Total Size: ₹650.43 crore
- Listing: BSE and NSE
Stay tuned for updates on subscription figures, listing dates, and grey market trends. Make an informed decision before the window closes on November 26!