Enviro Infra Engineers Limited delivered an exceptional listing performance, debuting at ₹220 on the NSE, a 48.65% premium over its IPO offer price of ₹148. This marks a standout entry amidst generally muted IPO market sentiment.
Key Listing Highlights:
- Offer Price: ₹148
- Listing Price (NSE): ₹220
- Premium: 48.65%
- Retail Investor Profit per Lot (101 shares): ₹7,272
- HNI Application Profit: ₹1,01,808
Strong Grey Market Sentiment:
Ahead of its debut, Enviro Infra Engineers’ IPO had shown robust demand in the grey market, with a grey market premium (GMP) of ₹55-60. The GMP had earlier suggested listing gains of up to 40%, which the company exceeded on its debut.
IPO Overview:
- Issue Size: ₹650.30 crore
- Fresh Issue: ₹572.46 crore
- Offer for Sale (OFS): 52.68 lakh equity shares
- Price Band: ₹140-148 per share
- Lot Size: 101 shares
- IPO Period: November 22-26
Subscription Details:
The IPO received an overwhelming response across all categories, with the issue being subscribed 89.90 times overall.
- Qualified Institutional Bidders (QIBs): 157.05 times
- Non-Institutional Investors (NIIs): 153.80 times
- Retail Investors: 24.48 times
- Employee Category: 37.77 times
Business Overview:
New Delhi-based Enviro Infra Engineers specializes in the design, construction, operation, and maintenance of water and wastewater treatment plants. The IPO proceeds will be utilized for:
- Working Capital Requirements: ₹181 crore
- Debt Repayment: ₹100 crore
- Investment in Subsidiary (EIEL Mathura Infra Engineers): ₹30 crore for a 60 MLD sewage treatment plant in Mathura, Uttar Pradesh.
- General Corporate Purposes: Remaining funds.
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