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Enviro Infra Engineers made a strong debut on November 29, with shares surging 40% to close at Rs 207.07, following an opening price of Rs 220, which was 48.6% above the issue price of Rs 148. The stock reached an intraday high of Rs 233.70 and a low of Rs 205.05, with a market capitalization of Rs 3,633.47 crore.
Enviro Infra Engineers shares made a strong debut on November 29, opening at Rs 218 on the BSE, a 47.29% premium over the IPO price, while the NSE saw an opening at Rs 220, reflecting a 48.65% premium. The company's Rs 650-crore IPO was highly successful, with a subscription rate of 89.90 times during its three-day bidding period.
Enviro Infra Engineers' IPO, which closed with a remarkable 89.90 times subscription, is set to list on November 29. The grey market premium has dipped to Rs 49, reflecting a 33.11% premium over the upper price band of Rs 148. Investors can check their allotment status on Bigshare Services Pvt Ltd's official website.
Enviro Infra Engineers is set to allot shares to successful bidders today, following a strong subscription rate of 89.90 times during its IPO. The price band for the shares was set between Rs 140-148, with a total issue size of Rs 650 crore. Investors can check their allotment status on the Bigshare Services website using their application number or PAN details, as well as on the BSE and NSE platforms.
Enviro Infra Engineers' IPO has seen a remarkable subscription rate of 30.32 times on its final bidding day, with non-institutional investors leading at 94.59 times and retail investors at 16.90 times. The IPO, which includes a fresh issue of 3.87 crore equity shares and an offer for sale of 52.68 lakh shares, has garnered bids for 93.37 crore shares against 3.07 crore shares available. Despite a slight decline in grey market premium, shares are trading at a premium of Rs 48, suggesting a potential listing gain of around 32%.
Enviro Infra Engineers' IPO saw a significant surge, with a 35% increase in the grey market premium on the second day of subscription. The issue was oversubscribed 8.01 times, receiving bids for 24.67 crore shares against 3.07 crore shares available. Non-institutional investors led the demand, with their portion subscribed 20.37 times, while retail individual investors and qualified institutional buyers subscribed 6.11 times and 2.05 times, respectively.
Enviro Infra Engineers' IPO saw robust demand on its first day, achieving a subscription rate of 1.63 times. The company aims to raise Rs 650 crore through its public issue, which includes a fresh equity share offering and an offer-for-sale by promoters. Non-institutional investors led the demand, subscribing 1.97 times their portion, while qualified institutional buyers and retail investors also showed strong interest.
Enviro Infra Engineers is set to raise ₹650 crore through its IPO, focusing on the design, construction, operation, and maintenance of water and wastewater treatment plants. With an order book of ₹1,906 crore and plans for expansion in eastern and southern India, the company has developed 28 plants in the last seven years, supported by an in-house team for engineering and construction. Despite valuations being considered not inexpensive, the medium-term outlook appears promising due to improved realizations and market conditions.
Enviro Infra Engineers Ltd (EIEL), established in 2009 and based in Delhi, specializes in designing, constructing, and maintaining Water and Wastewater Treatment Plants for government projects across India. With a strong order pipeline and a focus on large-scale projects, the company is well-positioned for growth, particularly with government initiatives like the Jal Jeevan Mission and NAMAMI Gange Programme. At an upper price band of ₹148, EIEL is fairly priced with a P/E of 23.9x (FY24), leading to a "subscribe" recommendation for medium- to long-term investment.
Enviro Infra Engineers Ltd specializes in the design, construction, operation, and maintenance of Water and Wastewater Treatment Plants (WWTPs) and Water Supply Scheme Projects (WSSPs) for government entities. Their projects, which include Sewage Treatment Plants and Water Treatment Plants, are often funded by Central Government initiatives like the Atal Mission for Rejuvenation and Urban Transformation and the Jal Jeevan Mission. The IPO is considered fairly priced, with a recommendation to "Subscribe-Long term."
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