On the second day of subscriptions, Enviro Infra Engineers Ltd., a prominent player in the water and waste water treatment industry, had 8.04 times subscriptions to its initial public offering on Monday.

According to NSE data, there was a 8.04-fold overall subscription as investors from all categories applied for more than 24.77 crore shares out of the 3.07 crore shares that were available.

subscription across all categories

Of the 87.69 lakh shares set aside for Qualified Institutional Buyers (QIBs), more than 2.16 crore shares were put up for bid. The issue received 2.47 subscriptions within the category.

The mainboard issue was booked 6.36 times in the retail category. The retail investors placed bids for over 9.75 crore shares, compared to the 1.5 crore shares reserved for them.

The Non-Institutional Investors (NIIs) category had the highest demand, with 20.99 times as many subscriptions. The NIIs applied for 13.80 crore shares, compared to the 65.77 lakh shares that were set aside for them.

The Enviro Infra Engineers IPO employee quota received 3.16 percent. Employees applied for 10.21 lakh shares out of the 1,00,000 shares reserved for them.

Grey market price (GMP)

The Grey Market Premium (GMP) for Enviro Infra Engineers' IPO is Rs 53 today, Rs 21 more than the GMP of Rs 32 on Friday. The IPO GMP for Enviro Infra Engineers increased from Rs 22 to Rs 53 over the past four days.

IPO size and structure

The 3.87 crore new equity shares and 52.68 lakh shares offered for sale by the promoters, who currently own over 93 per cent of the company's shares, make up the Rs 650-crore Enviro Infra Engineers IPO.

The firm has reserved 50 per cent of the issue for QIBs, 35 per cent for retail investors and 15 per cent for NIIs.

Price band and minimum bid

For the IPO, a price range of Rs 140 to Rs 148 per share has been set. Retail investors must bid on a minimum of 101 shares, or a minimum investment of Rs 14,948, in order to take part in the IPO.

Small Non-Institutional Investors (sNIIs) must bid on a minimum of 14 lots, or 1,414 shares, for a total investment of Rs 2,09,272 in order to take part in the issue. Big Non-Institutional Investors (bNIIs) are able to bid on 67 lots, or 6,767 shares, with a minimum investment of Rs 10,01,516.

Subscription and listing timetable

The IPO will conclude on Tuesday, November 26. The subscription period started on November 22. On Wednesday, November 27, the IPO share allocation status is expected to be finalized.

Refunds for unsuccessful bidders will start on Wednesday, November 27, once the share allocation status for the public issue is finalized. On Thursday, November 28, the winning bidders' Demat accounts will receive shares of the company.

The BSE and NSE will list the company's shares. On Friday, November 29, the company's shares are anticipated to go public.

Company financials

For the June quarter, Enviro Infra Engineers reported a profit-after-tax of Rs 30.78 crore, while their first-quarter FY25 revenue was Rs 207.46 crore. The company's net worth at the end of the June quarter of FY25 was Rs 323 crore.

Its revenue increased more than 116 per share from FY23 to FY24, from Rs 341.66 crore to Rs 738 crore. Between the fiscal year ending March 31, 2023, and the fiscal year ending March 31, 2024, the company's net profit grew by more than 101 per share, from Rs 54.98 crore to Rs 110.54.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.