The recently concluded initial public offering (IPO) of Enviro Infra Engineers Ltd. received a highly encouraging response from investors, as the issue was oversubscribed by a whopping 89.90 times on the final day of bidding. Qualified institutional buyers (QIBs) showed the strongest demand, subscribing to their quota by 157.05 times. Non-institutional investors (NIIs) also showed great interest, with their quota being subscribed by 153.80 times. The company's shares are expected to list on BSE and NSE on Nov. 29, with the IPO price band being set between Rs 140 to Rs 148 per share.
Enviro Infra Engineers Ltd., an infrastructure company specializing in water and wastewater treatment solutions, recently concluded its highly successful initial public offering (IPO) on the National Stock Exchange (NSE). The IPO received an overwhelming response from investors, with the issue being oversubscribed by a staggering 89.90 times on the final day of bidding.
Background
Enviro Infra Engineers was founded in 2005 and has established a strong track record in the water and wastewater sector. The company has executed numerous projects for government entities, municipalities, and industrial clients across India. Its expertise covers a wide range of services, including:
IPO Details
The company offered 30,871,324 equity shares with a face value of Rs 10 each, at a price band of Rs 140 to Rs 148 per share. The total size of the IPO amounted to Rs 455.75 crore. The funds raised through the IPO will be utilized for capital expenditure, working capital requirements, and general corporate purposes.
Investor Response
The IPO received strong demand from all categories of investors. Qualified institutional buyers (QIBs) showed the most enthusiasm, subscribing to their quota by 157.05 times. Non-institutional investors (NIIs) also showed keen interest, with their quota being subscribed by 153.80 times. Retail investors subscribed to their quota by 16.38 times.
Listing Details
The shares of Enviro Infra Engineers are expected to list on both the BSE and NSE on November 29, 2023.
1. Why was the Enviro Infra Engineers IPO so successful?
The IPO's success can be attributed to the company's strong financials, established track record, and the growing demand for water and wastewater treatment solutions in India.
2. What is the expected listing price of Enviro Infra Engineers shares?
The listing price is expected to fall within the IPO price band of Rs 140 to Rs 148 per share.
3. How much capital did Enviro Infra Engineers raise through the IPO?
The company raised Rs 455.75 crore through the IPO.
4. What is the purpose of raising capital through the IPO?
The proceeds will be used for capital expenditure, working capital requirements, and general corporate purposes.
5. Which investment banks managed the Enviro Infra Engineers IPO?
The IPO was managed by Axis Capital, ICICI Securities, and IIFL Securities as lead managers.
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