Enviro Infra Engineers, which develops turnkey solutions for sewage treatment facilities and sewerage systems, has filed draft documents with market regulator SEBI to raise funds through an initial public offering (IPO).
The company’s proposed IPO consists of a fresh issue of 4.42 Crore equity shares and an offer for sale (OFS) component of 52.68 lakh shares by promoters, according to the draft red herring prospectus (DRHP) filed last week.
The promoters currently own more than 93% of the corporation.
Proceeds from the fresh issue of ₹181 Crore will be used to meet working capital requirements, ₹100 Crore for debt repayment, and ₹30 Crore for the company’s subsidiary, EIEL Mathura Infra Engineers, to build a 60 million litres per day Sewage Treatment Plant (STP) in Mathura, Uttar Pradesh.
In addition, a portion will be used for general business reasons.
Enviro Infra Engineers specialises in the design, construction, operation, and maintenance of water and wastewater treatment plants, as well as water delivery scheme projects for government agencies and bodies. The treatment method built by the company at the majority of STPs is zero liquid discharge compliance, and the treated water can be used in horticulture, washing, refrigeration, and other process sectors.
Hem Securities is the sole book-running lead manager for the public offering.
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