Enviro Infra Engineers IPO Opens on 22nd November: Everything You Need to Know before Applying
The initial public offer (IPO) of Enviro Infra Engineers Ltd will open for subscription on November 22, 2024. The company’s IPO is a book-built issue of ₹650.43 crore. The issue intends to raise the funds through a fresh issue of equity shares amounting to ₹572.46 crore and an offer-for-sale amounting to ₹77.97 crore.
Enviro Infra Engineers IPO: Key Details
IPO Open Date: November 22, 2024
IPO Close Date: November 26, 2024
Allotment Date: November 27, 2024
Lot Size: 101 shares
Price Band: ₹140 to ₹148 per share
Credit of Shares to Demat Account: November 28, 2024
Initiation of Refunds: November 27, 2024
Listing Date: November 29, 2024
Enviro Infra Engineers IPO: Subscription Details
Enviro Infra Engineers’ issue has a total size of 4.3 crore shares, amounting to ₹650.43 crore. The company has capped the number of shares offered to qualified institutional buyers (QIBs) at 50% of the net issue. The number of shares offered to retail investors will be 35% of the net issue. The company has reserved 15% of the net issue for non-institutional investors (NIIs).
The company’s promoter group includes Sanjay Jain, Manish Jain, Ritu Jain, and Shachi Jain. Collectively, they hold 93.66% of the company’s shares.
Enviro Infra Engineers IPO Price Band and Lot Size
Enviro Infra Engineers has set the price band for the issue at ₹140-₹148 per share. The lot size for an application is 101 shares. The minimum investment size in Enviro Infra Engineers' IPO is ₹14,948. The minimum lot sizes for small non-institutional and big non-institutional investors have been set at 14 lots and 67 lots, respectively.
Utilisation of IPO Proceeds
The company reported that it will utilise the net proceeds from the fresh issue of shares to meet the working capital requirements.
Further, the company intends to infuse funds into its subsidiary, EIEL Mathura Infra Engineers (EIEL Mathura). The funds will be directed towards the company’s project, Mathura Sewerage Scheme, and will be used to build 60 megalitres per day (MLD) sewage treatment plants (STPs). The project is located in Mathura, Uttar Pradesh, and is carried out through a hybrid annuity-based PPP mode.
In addition, the company stated that it will use funds for part or whole repayment of certain outstanding borrowings. Enviro Infra Engineers also aims to support its inorganic growth through acquisitions and general corporate purposes.
About Enviro Infra Engineers
Enviro Infra Engineers undertakes projects on the design, construction, operation, and maintenance of water and waste-water treatment plants (WWTPs). Founded in 2009, the company also takes on water supply projects (WSSPs) for government agencies. As of June 30, 2024, the company has developed 28 WWTPs and WSSPs in India. Of the 28 projects, 22 have a capacity above 10 MLD.
For the financial year ended March 31, 2024, Enviro Infra Engineers reported a 96.19% year-on-year (YoY) rise in net profit to ₹108.57 crore. The company’s consolidated revenue for FY24 jumped 116% YoY to ₹738 crore.
At the end of Q1FY25, the company’s net profit stood at ₹29.97 crore while the total revenue came in at ₹207.45 crore.