Enviro Infra Engineers made a strong entry in the stock market on Friday. Enviro Infra Engineers shares were listed on BSE at Rs 220, a premium of 48.65 per cent over its issue price of Rs 148. Similarly, the stock started its first trading session with a premium of 47.30 per cent over the issue price of Rs 218 on BSE. Shares of Enviro Infra Engineers, a company specializing in the field of water and waste water management, made huge profits for investors.
There was tremendous support for the IPO from investors.
Enviro Infra’s Rs 650.43 crore offer comprised a fresh issue of 38,680,000 shares and an offer for sale of 5,268,000 shares of face value of Rs 10 each. The IPO closes for subscription on November 26, 2024. The IPO received overwhelming support from investors as it was oversubscribed 89.90 times, according to BSE data.
According to the data, the QIB segment was oversubscribed 157 times, while the non-institutional investors (NII) portion was oversubscribed 153 times. The retail portion of the issue was oversubscribed 24.48 times. Enviro Infra IPO was available at a price band of Rs 140-148 per share, with a lot size of 101 shares. The total market capitalization of Enviro Infra Engineers stood at Rs 3,861.66 crore at around 10:15 am on the NSE.
use of funds raised
The company will use the Rs 181 crore raised from the fresh issue to meet its working capital needs. Rs 100 crore will be invested in loan repayment and Rs 30 crore will be invested in the company’s subsidiary EIEL Mathura Infra Engineers to build a 60 million liter per day capacity sewage treatment plant (STP) in Mathura, Uttar Pradesh.
Great increase in company’s revenue
Talking about the financial status of the company, between the financial year ending March 31, 2024 and March 31, 2023, the company’s revenue increased by 116% and profit after tax (PAT) registered a growth of 101%. Has been.
