Enviro Infra Stock Market Listing News:The IPO of Enviro Infra Engineering, which is involved in the development of projects related to water treatment plants and ‘sewerage systems’, has proved to be a block buster for investors. Today the company’s stock has made a strong entry in the stock markets. Compared to the IPO price of Rs 148, this share was listed at Rs 218 i.e. with a premium of about 48 percent. Within a short time it reached Rs 234, which is 58 percent more than the IPO price. The IPO also received huge subscription.
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Enviro Infra IPO: How was the response from investors?
Enviro Infra Engineering’s IPO received a solid response from investors and was subscribed 89.90 times overall. In the IPO, 50 percent shares were reserved for qualified institutional buyers and it was filled 157.05 times overall. There was a reserve of 35 per cent for retail investors and it was filled 24.48 times overall. Whereas 15 percent share was reserved for non-institutional investors and it was filled a total of 153.80 times. The reserved share for employees had received bids of 37.77 times. The size of the IPO was Rs 650 crore, while it received bids of Rs 40,971.03 crore.
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IPO worth Rs 650 crore
The size of Enviro Infra Engineering’s IPO was Rs 650 crore. Whereas the price band for this was fixed at Rs 140-148 per share. Apart from the fresh issue of 3.87 crore equity shares in the company’s IPO, promoters and shareholders sold 52.68 lakh shares through OFS. Before the IPO, the promoters held more than 93 percent stake in Enviro Infra Engineers. The company had also given a discount of Rs 13 per share to its employees in this IPO.
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company financials
Talking about the financials of the company, in the financial year 2024, there was a growth of 116 percent in the company’s revenue and a growth of 101 percent was recorded in the profit after tax (PAT). Enviro Infra Engineers specializes in design, construction, operation and maintenance of water and waste water treatment plants as well as water supply projects for government bodies.
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Where will the funds be used
The company will use the amount of Rs 181 crore raised from the new issue to meet the working capital needs. Rs 100 crore will be invested in the payment of loan and Rs 30 crore will be invested in the company’s subsidiary EIEL Mathura Infra Engineers to build a sewage treatment plant (STP) of 60 million liters per day capacity in Mathura, Uttar Pradesh.
