Enviro Infra Engineers IPO: SBI Securities suggests apply for a listing gain; here's why

Enviro Infra Engineers IPO: The initial public offering (IPO) of Delhi-headquartered company, Enviro Infra Engineers, which operates, constructs, and Wastewater Treatment Plants (WWTPs) and Water Supply Scheme Projects (WSSPs) for the government, opened for subscription today, November on November 22, 2024. The IPO bidding process closed on November 26, 2024. Additionally, the company also bids for state government and urban local bodies (UBLs) to develop the WWTPs and WSSPs on an EPC or HAM basis.

The IPO's issue size is Rs 650.43 crores with a total of 3,86,80,000 shares on offer. The company has fixed the price band between Rs 140 and Rs 148.

Infra Engineers’ Rs 650-crore IPO includes fresh issuance worth Rs 572 crore

The Rs 650.43 crore IPO comprises fresh issuance of Rs 572 crore and an offer for sale of Rs 77.97 crore by selling shareholders. The company plans to utilised  the proceeds as follows:

• To meet the Working Capital Requirement
• Infusion of funds in the Subsidiary, EIEL Mathura Infra Engineers Private Limited (EIEL Mathura) to build 60 MLD STP under the project titled ‘Mathura Sewerage Scheme’ at Mathura in Uttar Pradesh through Hybrid Annuity Based PPP Mode
• Repayment or prepayment in full or in part, of certain of the outstanding loans

Enviro Infra Engineers IPO subscription status

The IPO was fully subscribed on its first day of bidding, with investors applying for 5,74,23,853 shares, representing 186 per cent of the total 3,07,93,600 shares on offer. The Employee Reserved portion received the highest bids, with 2.97 times subscription or 2,97,041 shares applied for, against 1,00,000 shares reserved. The Non-Institutional Investors (NIIs) portion received the second-highest bids, with 2.33 times subscription or 1,53,10,792 shares applied for, against 65,77,200 shares reserved. Meanwhile, Qualified Institutional Buyers (QIBs) applied for 1,78,66,799 shares, representing 2.04 times subscription, against the reserved 87,69,600 shares. Retail Individual Investors (RIIs) received the lowest bid, with 158% subscription or 2,42,52,827 shares applied for, against 1,53,46,800 shares reserved.

Why should investors apply for short listing gains?

SBI Securities's analysts have recommended the Enviro Infra Engineers IPO for a listing gains perspective because of its price band.  In comparison to other competitors like Va Tech and Ion Exchange, the company has fixed the price band at lower price (Rs 140-148). "The issue appears to be attractively priced on most valuation parameters," analysts said.

Another domestic brokerage, KRChoksey has assigned a "subscribe" rating for Enviro Infra Engineers. The brokerage has not said whether it is for the long term or the short term.

Enviro Infra Engineers: Key details; listing & allotment date, registrar, BRLMs

Here are the other details of the Enviro Infra Engineers including the stock debut date, allotment date, and official registrar:

What is the allotment date for Enviro Infra Engineers?

The allotment date of the Enviro Infra Engineers IPO is November 27, 2024, which indicates that applicants can check their status on November 28, 2024.

Who is the official registrar of Enviro Infra Engineers?

An official registrar of Enviro Infra Engineers IPO is Bigshare Services Private Limited.

How to check Enviro Infra Engineers IPO allotment status?

Here is the step-by-step guide to check your status via the official registrar website:

Step 1: Visit the public issue page of Bigshare Services Private Ltd via a link - "https://ipo.bigshareonline.com/IPO_Status.html".

Step 3: Choose the company "Enviro Infra Engineers"

Step 3: Choose the details category; Application No., Beneficiary ID, and PAN Number.

Step 4: Select your depository; NSDL or CDSL.

Step 5: Click on the 'Search' option, and the IPO status will be on your display.