Enviro Infra Engineering listed at Rs 220 on the National Stock Exchange, a premium of 48.6% to the issue price. It got listed on BSE at Rs 218, a premium of 47.2%.
Enviro Infra Engineers IPO GMP
The stock of Enviro Infra Engineers IPO was attracting a premium of a bit over 35% in the grey market. The current GMP indicates the listing at Rs 205 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
Enviro Infra Engineers IPO opened on November 22 and raised Rs 650.43 crore through a combination of fresh shares and an offer for sale. The company sold 3.87 crore shares for Rs 572.46 crore. It sold 53 lakh shares of promoters and other selling shareholders to pocket Rs 77.97 crore. The company closed the issue on November 26. The company’s IPO price band ranged from Rs 140 to Rs 148 per equity share. The allotment of shares was finalised on November 27.
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Minimum investment required
A retail individual investor had to apply for a minimum of 101 shares in a lot, which totalled Rs 14,948. There were different lot sizes for small and big NIIs, ranging from Rs 2,09,272 to Rs 10,01,516. Also, the issue included a reservation of up to one lakh shares for employees, which were offered to them at a discount of Rs 13 to the issue price.
Also ReadEnviro Infra Engineering IPO allotment likely on November 27; issue fully subscribed on Day 2- A look at GMP
Expert’s take on Enviro Infra Engineers IPO
“Despite, the subdued mood in the market, Enviro Infra a specialised water and wastewater management company managed to attract a stronger response from all sets of investors, with high demand seen in both the QIB & NII categories. The subscription demand is justified on the back of reasonable IPO valuation along with sector-wise focus and increasing relevance of water &
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