Enviro Infra Engineers has successfully raised Rs 194.7 crore from institutional investors through its anchor book ahead of its initial public offering (IPO).
The company aims to secure a total of Rs 650.4 crore, which includes a fresh issue of 3.86 crore equity shares valued at Rs 572.46 crore and an offer-for-sale of 52.68 lakh shares worth Rs 78 crore, priced at the upper end of the band between Rs 140-148 per share.
The allocation to anchor investors includes 1.31 crore equity shares at Rs 148 each. Notably, Quant Mutual Fund emerged as the largest anchor investor, committing Rs 25 crore for 16.98 lakh shares, while Motilal Oswal Mutual Fund followed with an investment of Rs 20 crore for 13.51 lakh shares.
The IPO is set to enhance the company's capital for its water and wastewater management solutions.