Enviro Infra Engineers IPO Subscribed 1.65 Times

22 Nov 2024 , 03:29 PM

On Friday, Enviro Infra Engineers’ initial public offering (IPO) became available for subscription. The issue will go up for bid until November 26 and includes an OFS of around Rs 78 crore and a new equity sale valued at Rs 572 crore.

The business plans to use the net proceeds from the new offer to pay down debt, bolster working capital needs, and invest in EIEL Mathura Infra Engineers, a subsidiary, to construct a 60 MLD STP during the Mathura Sewerage Scheme project.

Subscriptions for the Enviro Infra Engineers IPO will open on November 22 and end on November 26. On November 27, the IPO allotment will be finished, and on November 29, the listing is planned.

As of 3:36 pm, The retail Investors portion was subscribed 1.62 times, the NII portion was subscribed 2.01 times and the QIB portion was subscribed 1.78 times.

Investors can bid for 101 shares in a single lot and then in multiples of that price, which is set by Enviro Infra Engineers at Rs 140–148 per share.

For government agencies and bodies, the company designs, builds, operates, and maintains water and wastewater treatment facilities (WWTPs) and water supply scheme projects (WSSPs).

Whereas WSSPs consist of Water Treatment Plants (WTPs) in addition to pumping stations and pipeline construction for water supply, WWTPs comprise Sewage Treatment Plants (STPs), Sewerage Schemes (SS), and Common Effluent Treatment Plants (CETPs).

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