Enviro Infra Engineers IPO will open on November 22. The company aims to raise Rs 650.43 crore through a combination of fresh shares and an offer for sale. The company will sell 3.87 crore shares for Rs 572.46 crore. It will also sell 53 lakh shares of promoters and other selling shareholders to pocket Rs 77.97 crore.
Enviro Infra Engineers IPO GMP
The stock of Enviro Infra Engineers IPO was attracting a premium of a bit over 16% in the grey market. The current GMP indicates the listing at Rs 172 against the issue price of Rs 148. The grey market premium is an unofficial place to trade shares ahead of listing.
Enviro Infra Engineers IPO key details
The company will close the issue on November 26. It set the price band in a range of Rs 140 to Rs 148 per equity share. The allotment of shares will likely be finalised on November 27. The listing on the stock exchanges – NSE and BSE – is expected to take place on November 29.
Minimum investment required
A retail individual investor needs to apply for a minimum of 101 shares in a lot, which totals Rs 14,948. There are different lot sizes for small and big NIIs, ranging from Rs 2,09,272 to Rs 10,01,516. Also, the issue includes a reservation of up to one lakh shares for employees offered at a discount of Rs 13 to the issue price.
About Enviro Infra Engineers IPO
The company is in the business of designing, constructing, operating, and maintaining Water and Wastewater Treatment Plants (WWTPs) and Water Supply Scheme Projects (WSSPs) for government authorities/bodies. WWTPs include Sewage Treatment Plants (STPs), Sewerage Schemes (SS) and Common Effluent Treatment Plants (CETPs) while WSSPs include Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for the supply of water (collectively, “Projects”).
BRLM and registrar
Hem Securities is the sole book-running lead manager of the IPO, while Bigshare Services is handling the work of the registrar for the issue.
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