Enviro Infra Projects IPO opens from Nov 22-26

18 Nov 2024 , 11:46 AM

Sewerage treatment plant developer, Enviro Infra Projects Limited has filed its RHP with the Securities & Exchanges Board of India (SEBI). The company’s initial public offer (IPO) will be available for subscription from November 22 to November 26, 2024. The price band of the issue has been fixed at ₹140 to ₹148 per share and investors can apply for minimum 101 shares in a lot.

The company will open its anchor book on November 21.

The upcoming IPO of Enviro Infra Engineers consists of a fresh issue of 3.87 crore equity shares and an offer-for-sale of 52.68 lakh shares by the company’s promoters. The Jain family from Delhi is the promoter group behind the company. For employees, 1 lakh equity shares have been reserved. Excluding the employee portion, 50% of the net issue size is allocated for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.

Enviro Infra Engineers focuses on designing, building, operating, and maintaining water and wastewater treatment plants and water supply projects for government authorities. Over the past seven years, the company has completed 28 such projects across India. As of June 2024, the company’s order book stands at Rs 1,906.3 crore, with 21 ongoing projects in water and wastewater treatment and water supply schemes.

The funds raised from the fresh issue will be used for several purposes, including:

• Meeting working capital needs
• Infusing funds into EIEL Mathura Infra Engineers Private Limited for constructing a 60 MLD sewage treatment plant under the “Mathura Sewerage Scheme” in Mathura, Uttar Pradesh, through a hybrid annuity-based PPP model
• Repaying or prepaying certain borrowings
• Supporting inorganic growth through acquisitions and general corporate needs

Hem Securities is the sole book-running lead manager for the issue, and Bigshare Services will serve as the registrar.