Enviro Infra Engineers IPO day 1: GMP, subscription status, review, other details. Good or bad for investors?
- Enviro Infra Engineers IPO GMP: According to stock market observers, Enviro Infra Engineers Limited shares are available at a premium of ₹31 in the grey market today
Enviro Infra Engineers IPO: The initial public offering (IPO) of Enviro Infra Engineers Limited hit the Indian primary market today and will remain open until 26th November 2024. According to the Enviro Infra Engineers IPO subscription status, the book build issue has been fully booked on day one of bidding. The wastewater management company has fixed the Enviro Infra Engineers IPO price band at ₹140 to ₹148 per equity share. The company aims to raise ₹650.43 crore. The public issue is a mix of fresh shares and Offer for Sale (OFS), and the company aims to raise ₹572.46 crore by issuing fresh shares. The book build issue is proposed for listing on the BSE and the NSE.
Meanwhile, company shares surged in the grey market before the Enviro Infra Engineers IPO opening. According to stock market observers, Enviro Infra Engineers Limited shares are available at a premium of ₹31 in the grey market today. They said that Enviro Infra Engineers IPO GMP today is ₹8 higher than Thursday's GMP of ₹23.
Enviro Infra Engineers IPO subscription status
By 2:51 PM on day 1 of bidding, the public issue had been subscribed 1.56 times, the retail portion 1.32 times, and the NII segment 1.80 times.
Enviro Infra Engineers IPO details
1] Enviro Infra Engineers IPO GMP: According to stock market observers, Enviro Infra Engineers Limited shares are available at a premium of ₹31 in the grey market today.
2] Enviro Infra Engineers IPO date: The public issue has opened today and will remain open until 26 November 2024.
3] Enviro Infra Engineers IPO price: The wastewater management company has fixed the Enviro Infra Engineers IPO price band at ₹140 to ₹148 per equity share.
4] Enviro Infra Engineers IPO size: The company aims to raise ₹650.43 crore, out of which ₹572.46 crore is expected through the issuance of fresh shares. The remaining ₹77.97 crore is reserved for the Offer for Sale (OFS) route.
5] Enviro Infra Engineers IPO lot size: A bidder can apply for the public issue in lots, and one log of the book build issue comprises 101 company shares.
6] Enviro Infra Engineers IPO allotment date: The most likely date for share allocation is 27th November 2024, i., on Wednesday next week.
7] Enviro Infra Engineers IPO registrar: Bigshare Services Private Limited has been appointed official registrar of the public offer.
8] Enviro Infra Engineers IPO Lead Manager: Hem Securities has been appointed lead manager of the initial offering.
9] Enviro Infra Engineers IPO listing date: The book build issue is proposed for listing on the BSE and the NSE. The most likely date for the share listing is 29th November 2024.
Enviro Infra Engineers IPO: Good or bad?
Giving a 'subscribe' tag to the public issue, Akriti Mehrotra, Research Analyst, StoxBox, said, "Financially, EIEL has shown consistent growth, with a revenue CAGR of 80.6%, rising from Rs. 2,235 million in FY22 to Rs. 7,289 million in FY24, and a profit CAGR of 78.9%, from Rs. 345 million in FY22 to Rs. 1,086 million in FY24. Despite risks such as reliance on government contracts and high working capital, EIEL's strong financial performance and focus on growth strategies position it for continued success. We recommend a "SUBSCRIBE" rating for the issue."
"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," said Anshul Jain, Head of Research at Lakshmishree Investment and Securities adding, “High-risk investors can apply for the listing gains.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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