Shares of Enviro Infra Engineers Limited traded today (November 29) on the National Stock Exchange (NSE) at Rs. 220, which was 48.65% higher than the issue price. At the same time, the shares traded on the Bombay Stock Exchange (BSE) at Rs. 218, which was 47.30% higher than the issue price. The IPO issue price of Enviro Infra Engineers was ₹148 per share.
The IPO was open for bidding from November 22 to November 26, with a total subscription of 89.90 times. It was oversubscribed 24.48 times in retail category, 157.05 times in qualified institutional buyers (QIB) and 153.80 times in non-institutional investors (NII) category.
Enviro Infra Engineers' issue was worth ₹650.43 crore
The issue of Enviro Infra Engineers totaled ₹ 650.43 crore. For this, the company issued 38,680,000 new shares worth ₹572.46 crore. Existing investors of the company sold 5,268,000 shares worth ₹ 77.97 crore through Offer for Sale or OFS.
Retail investors can bid for a maximum of 1313 shares
Enviro Infra Engineers had set an IPO price band of ₹140 to ₹148 per share. Retail investors can bid for a minimum of one lot i.e. 101 shares. If you had applied for 1 lot as per IPO's upper price band of ₹148, you would have paid ₹14,948 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 1313 shares. For this, investors have to invest ₹194,324 as per the upper price band.
Will the company use the funds?
The company will use the proceeds from this IPO for several important purposes. These include meeting our daily needs, investing in EIEL Mathura Infra Engineers Pvt Ltd and building a 60 MLD sewage treatment plant in Mathura. Along with this, the company will pay off some of its old debts and invest the money for general business purposes.
How has the financial performance of the company been?
If we look at the financial performance of Enviro Infra Engineers Limited, the company has consistently performed well in the last three financial years. In FY22, the company's consolidated total revenue was ₹ 225.62 crore and net profit was ₹ 34.55 crore.
which increased to ₹ 341.66 crore and ₹ 55.34 crore in FY23. In FY24, the company reported a revenue of ₹738.00 crore and a net profit of ₹108.57 crore. In Q1FY25, the company's revenue was ₹207.46 crore and net profit was ₹29.97 crore.
The company deals with water and waste water treatment plants Enviro Infra Engineers Limited (EIEL) undertakes the design, construction, operation and maintenance of water and wastewater treatment plants (WWTPs) and water supply scheme projects (WSSPs). This work is mostly done for government organizations.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
