Enviro Infra Engineers IPO: On the third day of public subscription, the IPO was oversubscribed 89.90 times. The QIB portion was booked the most, with 157.05 times the shares on offer. The NII quota followed suit, garnering 153.80 times bids.
The retail portion was subscribed 24.48 times on the third and final day of the IPO, according to data collected from the BSE website.
Enviro Infra Engineers successfully raised approximately ₹195 crore from anchor investors. The company’s initial public offering (IPO) is valued at ₹650 crore, with shares priced between ₹140 and ₹148 each. The IPO consists of a fresh issuance of 3.87 crore equity shares, along with a sale offer (OFS) of 52.68 lakh shares by the promoters.
On the other hand, Enviro Infra Engineers IPO of ₹650 crore is priced between ₹140 and ₹148 each. The city-based company’s proposed IPO consists of a fresh issuance of 3.87 crore equity shares, alongside an OFS component that includes 52.68 lakh shares being sold by the promoters.
Giving a ‘subscribe’ tag to the public issue, Anshul Jain, Head of Research at Lakshmishree Investment and Securities, said, “Enviro Infra’s IPO has garnered significant attention in the first two days of bidding. While the company reported impressive growth in FY24, with revenue soaring over 115% and Profit After Tax (PAT) more than doubling, recent quarterly results show a decline in revenue and PAT. Additionally, the company’s assets increased from ₹761.90 crore to ₹812.87 crore in Q1FY25, but at the cost of a rise in net borrowings, which jumped from ₹235 crore to ₹305 crore. So, high-risk investors can apply for the public issue for listing gain only.”
