SFC Environmental Technologies IPO opens Oct 27, price band at ₹313-330

SFC Environmental Technologies has set a price band of ₹313-330 per share for its ₹668 crore IPO, opening on October 27, valuing the company at around ₹3,233 crore at the upper end.

Wastewater treatment solution provider SFC Environmental Technologies Ltd on Wednesday announced that its Rs 668 crore initial public offering (IPO) will open for subscription on October 27.

It has fixed a price band of Rs 313-330 per share for the public issue, valuing the company at around Rs 3,233 crore at the top end of the price band.

The IPO comprises a fresh issue of equity shares worth Rs 150 crore and an offer-for-sale (OFS) of up to 1.57 crore shares by promoters and existing shareholders, according to a public announcement.

Proceeds from the fresh issue will be used for debt repayment and working capital requirements.

 

The public issue will close on October 29 and anchor investor bidding will take place on October 26.

The company's equity shares are proposed to be listed on BSE and NSE on November 3.

Incorporated in 2005, the Mumbai-based company provides wastewater treatment solutions using proprietary technologies, including C-Tech, an advanced technology for treating sewage and effluents.

Its customers include SMC Infrastructures, Rajkamal Builders Infrastructure, Ramky Infrastructure, EMS and Enviro Infra Engineers.

The company said that 50 per cent of the offer size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs) and 35 per cent for retail individual investors.

IIFL Capital Services, JM Financial and Nuvama Wealth Management are the book-running lead managers to the issue, while MUFG Intime India is the registrar.