Enviro Infra Engineers IPO: The IPO was oversubscribed 89.90 times on the third day of public subscription. The QIB portion was the most booked, with 157.05 times shares on offer. NII quota also followed suit and received bids of 153.80 times.
According to data collected from the BSE website, the retail portion was subscribed 24.48 times on the third and final day of the IPO.
Enviro Infra Engineers successfully raised approx Rs 195 crore from anchor investors. A company’s initial public offering (IPO) is evaluated 650 crores, price of shares between 140 more 148 each. The IPO comprises an offer for sale (OFS) of 52.68 lakh shares by the promoters along with fresh issuance of 3.87 crore equity shares.
On the other hand, the IPO of Enviro Infra Engineers The price is between Rs 650 crores 140 more 148 each. The city-based company’s proposed IPO involves fresh issuance of 3.87 crore equity shares along with an OFS component, including 52.68 lakh shares sold by promoters.
Giving the public issue a ‘subscribe’ tag, Anshul Jain, Head of Research, Laxmishree Investments & Securities, said, “Enviro Infra’s IPO has attracted significant attention in the first two days of bidding. While the company recorded impressive growth in FY24 Is.” With revenues growing by over 115% and profit after tax (PAT) more than doubling, the recent quarterly results show a decline in revenues and PAT. Additionally, the company’s assets have also increased Rs 761.90 crore 812.87 crore in Q1FY25, but at the cost of growth in net borrowings, which jumped from from 235 crores 305 crores. Therefore, investors with high risk appetite can apply for public issue only for listing benefits.”
