Enviro Infra Engineers IPO: Demand continues to soar on Day 2, GMP hits 35%

Enviro Infra Engineers IPO sees strong demand, oversubscribed 4.32 times on Day 2. Check the latest IPO subscription status and GMP updates

Enviro Infra Engineers IPO subscription status: The initial share sale of water and wastewater turnkey projects developer Enviro Infra Engineers has so far received enthusiastic participation from investors, being oversubscribed by 4.32 times as of 10:48 AM on Monday, November 25, 2024.

 

Enviro Infra Engineers IPO, which opened for public subscription on Friday, November 22, 2024, has garnered the highest demand from Non-Institutional Investors (NIIs), who have subscribed for 9.58 times the quota reserved for them. Retail investors and Qualified Institutional Buyers (QIBs) have also shown strong interest, oversubscribing their categories by 3.34 times and 2.05 times, respectively, according to data available on the National Stock Exchange (NSE).

 

  Enviro Infra Engineers IPO grey market premium (GMP)

Grey market trends also reflect the favourable response to the public offering. Sources tracking unofficial markets suggest that Enviro Infra Engineers unlisted shares are trading at a premium of Rs 51 against the upper price band of Rs 148, indicating a GMP of 35.14 per cent.

  Enviro Infra Engineers IPO review

Enviro Infra Engineers has received broadly positive reviews from brokerages, including Deven Choksey Research, Anand Rathi Research, Bajaj Broking, and Swastika Investmart, for its IPO. READ MORE

  Enviro Infra Engineers IPO details

The Rs 650.43 crore offering, priced in a band of Rs 140–Rs 148 per share with a lot size of 101 shares, will remain open for public subscription until Tuesday, November 26, 2024. Enviro Infra Engineers IPO consists of a fresh issue of 3.87 crore equity shares and an offer for sale (OFS) of 52.68 lakh shares by the promoters.

 

After the closure of the subscription window, the basis of allotment for Enviro Infra Engineers IPO is expected to be finalised on Wednesday, November 27, 2024. Successful allottees will receive the shares in their demat accounts by Thursday, November 28, 2024.

 

Shares of Enviro Infra Engineers are expected to debut on the bourses on Friday, November 29, 2024, with a listing on the National Stock Exchange (NSE) and the BSE (formerly Bombay Stock Exchange).

 

Bigshare Services is the registrar for Enviro Infra Engineers, while Hem Securities is the sole book-running lead manager for the public issue.

  About Enviro Infra Engineers

Enviro Infra Engineers specialises in designing, building, operating, and maintaining water and wastewater treatment plants, as well as water supply scheme projects, primarily for government agencies. Notably, the treatment processes installed by the company at most of its sewage treatment plants (STPs) are zero-liquid-discharge compliant, enabling the treated water to be reused for purposes such as horticulture, washing, refrigeration, and various industrial processes.