Enviro Infra Engineers made a strong entry into the stock market on Friday. Shares of Enviro Infra Engineers were listed on the BSE at Rs 220, a premium of 48.65 per cent over its issue price of Rs 148. Similarly, the stock started its first trading session on the BSE at a premium of 47.30 per cent over the issue price of Rs 218. Shares of Enviro Infra Engineers, a company specializing in water and wastewater management, earned great profits for investors.
Strong Investor Support for IPO
Enviro Infra’s Rs 650.43 crore offer consisted of a fresh issue of 38,680,000 shares and an offer for sale of 5,268,000 shares, each with a face value of Rs 10. The IPO closed for subscription on November 26, 2024, and was oversubscribed 89.90 times. According to BSE data, the QIB segment was oversubscribed 157 times, the non-institutional investors (NII) portion was oversubscribed 153 times, and the retail portion was oversubscribed 24.48 times. The IPO was priced in the range of Rs 140-148 per share, with a lot size of 101 shares. By 10:15 am, the total market capitalization of Enviro Infra Engineers was Rs 3,861.66 crore on the NSE.
Use of Funds Raised
The company plans to use Rs 181 crore raised from the new issue to meet working capital requirements. Rs 100 crore will be used to repay loans, while Rs 30 crore will be invested in its subsidiary, EIEL Mathura Infra Engineers, to build a 60 million litres per day sewage treatment plant (STP) in Mathura, Uttar Pradesh.
Impressive Revenue Growth
Between the financial year ending March 31, 2023, and March 31, 2024, the company’s revenue grew by 116%, and its profit after tax (PAT) increased by 101%.
To apply for the Enviro Infra IPO online, follow these steps:
- Open a Demat and Trading Account: Ensure you have an active Demat and trading account with a registered broker.
- Login to Your Trading Account: Access your account on your broker’s platform.
- Go to IPO Section: Find the Enviro Infra IPO under the “IPO” section.
- Fill Application Details: Enter the number of shares you wish to apply for and the price within the given band.
- Make Payment: Pay using UPI or other available payment methods.
- Confirm and Track: After payment, you’ll receive an application number. Track allotment and listing updates on your trading platform.