Delhi-based water and wastewater management provider, Enviro Infra Engineers Ltd., launched its initial public offering on Friday, which was fully subscribed at 2.08 times. As of Monday, the IPO has been subscribed 8.34 times, with a grey market premium of Rs 52 and an estimated listing price of Rs 200 per share. The company aims to raise Rs 650.43 crore through the public issue, with a price band of Rs 140-148 per share and a minimum bid requirement of 101 shares. Enviro Infra had previously raised Rs 195 crore from anchor investors and its IPO will close on November 26, with a fresh issue of Rs 572.46 crore.
Enviro Infra IPO: Strong Subscription, Listing Expected at Premium
Background
Enviro Infra Engineers Ltd., a Delhi-based water and wastewater management provider, launched its initial public offering (IPO) on November 22, 2022. The company aims to raise Rs 650.43 crore through the public issue, which will be used for expansion, acquisition, and general corporate purposes.
IPO Details
Subscription Status
As of November 26, 2022, the IPO has been subscribed 8.34 times. The portion reserved for qualified institutional buyers (QIBs) is fully subscribed, while the retail portion is subscribed 2.59 times.
Grey Market Premium
According to sources, the grey market premium (GMP) for Enviro Infra shares is Rs 52 per share, indicating an estimated listing price of Rs 200 per share.
Key Financials
For the fiscal year ended March 2022, Enviro Infra reported a revenue of Rs 833.98 crore and a profit after tax of Rs 109.02 crore. The company has a strong order book of over Rs 2,000 crore.
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