Non-institutional investors drove the Enviro Infra Engineers Limited initial public offering (IPO), which was fully subscribed on the first day of bidding on Friday, November 22.
Based on NSE data, investors from all categories applied for more than 6.38 crore shares out of the 3.07 crore shares that were available, resulting in a 2.07-fold overall subscription.
Subscription across all categories
More than 1.79 crore shares were bid on by Qualified Institutional Buyers (QIBs), out of the 87.69 lakh shares reserved for them. Within the category, the issue received 2.04 subscriptions.
In the retail category, the mainboard issue was booked 1.73 times. In contrast to the 1.5 crore shares set aside for them, the retail investors placed bids for over 2.65 crore shares.
With 2.99 times as many subscriptions, the Non-Institutional Investors (NIIs) category had the highest demand. In contrast to the 65.77 lakh shares reserved for them, the NIIs applied for 1.96 crore shares.
3.16 per cent were made for the Enviro Infra Engineers IPO employee uota. Out of the 1,00,000 shares that were set aside for them, the employees applied for 3.16 lakh shares.
Offer size and structure
Through its public offering, Enviro Infra Engineers Limited hopes to raise Rs 650.43 crore.
The mainboard issue includes an offer-for-sale (OFS) component of 53 lakh shares, totaling Rs 77.97 crore, and a fresh issue of 3.87 crore shares, totaling Rs 572.46 crore.
#EnviroInfra Engineers Limited ₹650.43 Cr. #IPO is out now for subscription. The IPO has already garnered some attention & showcases promising GMP. With a strong investor interest ahead of #publicoffering, the #Infrastructure projects' is expected to grow with time.#indiaipo pic.twitter.com/srpEuptNgK
— India IPO (@india_ipo1) November 22, 2024
Price band and minimum bid
A price range of Rs 140 to Rs 148 per share has been set for the IPO. In order to participate in the IPO, retail investors must bid on a minimum of 101 shares, totaling a minimum investment of Rs 14,948.
In order to participate in the issue, Small Non-Institutional Investors (sNIIs) must bid on at least 14 lots, or 1,414 shares, for a total investment of Rs 2,09,272. 67 lots or 6,767 shares are up for bid by Big Non-Institutional Investors (bNIIs), with a minimum investment of of Rs 10,01,516.
Subscription and listing timeline of IPO
The subscription began on 22 November, the IPO will end on Tuesday, November 26. It is anticipated that the IPO share allocation status will be finalized on Wednesday, November 27.
On Wednesday, November 27, refunds for unsuccessful bidders will begin with the finalization of the public issue's share allocation status. Shares of the business will be deposited into the winning bidders' Demat accounts on Thursday, November 28.
The company's shares will be listed on the BSE and NSE. The shares of the company are expected to go public on Friday, November 29.
Company financials
Enviro Infra Engineers reported a profit-after-tax of Rs 30.78 crore for the June quarter, with revenue of Rs 207.46 crore for the first quarter of FY25. At the end of FY25's June quarter, the company's net worth was Rs 323 crore.
From Rs 341.66 crore in FY23 to Rs 738 crore in FY24, its revenue grew by more than 116 per cent. From Rs 54.98 crore in the fiscal year that ended on March 31, 2023, to Rs 110.54 in the fiscal year that ended on March 31, 2024, the company's net profit increased by more than 101 per cent. From Rs 126.51 crore in the previous fiscal year to Rs 292.18 crore, the company's net worth grew by almost 131 per cent.