Enviro Infra Engineers IPO fully subscribed on Day 1 of offer

5 hours ago 1

The archetypal stock merchantability of Enviro Infra Engineers, which is progressive successful improvement of turnkey projects of sewage attraction plants and sewerage system, got afloat subscribed connected the archetypal time of the connection connected Friday.

The archetypal nationalist offering (IPO) received bids for 6,38,69,269 shares against 3,07,93,600 shares connected offer, translating into 2.07 times subscription, according to NSE data.

The information for non-institutional investors attracted 2.98 times subscription portion the qualified organization buyers (QIBs) portion got subscribed 2.04 times. The class for retail idiosyncratic investors (RIIs) fetched 1.70 times subscription.

Enviro Infra Engineers connected Thursday collected astir Rs 195 crore from anchor investors.

The Rs 650-crore archetypal stock merchantability is successful a terms scope of Rs 140-148 apiece.

The company's IPO is simply a operation of a caller contented of 3.87 crore equity shares and an connection for merchantability (OFS) constituent of 52.68 lakh shares by promoters.

Currently, promoters clasp implicit 93 per cent involvement successful Enviro Infra Engineers.

Proceeds from the caller contented to the tune of Rs 181 crore volition beryllium utilized to conscionable the moving superior requirements, Rs 100 crore volition beryllium utilized for outgo of debt, Rs 30 crore volition beryllium infused into the company's subsidiary, EIEL Mathura Infra Engineers, to physique 60 cardinal litres per time sewage attraction works (STP) astatine Mathura successful Uttar Pradesh. Besides, a information volition beryllium utilized for wide firm purposes.

Enviro Infra Engineers is engaged successful designing, construction, cognition and attraction of h2o and wastewater attraction plants and h2o proviso strategy projects for authorities authorities/bodies.

The attraction process installed by the institution astatine astir of the STPs is zero liquid discharge-compliant and the treated h2o tin beryllium utilized for horticulture, washing, refrigeration and different process industries.

Hem Securities is the sole book-running pb manager of the nationalist issue.

*** Disclaimer: This Article is auto-aggregated by a Rss Api Program and has not been created or edited by Nandigram Times

(Note: This is an unedited and auto-generated story from Syndicated News Rss Api. News.nandigramtimes.com Staff may not have modified or edited the content body.

Please visit the Source Website that deserves the credit and responsibility for creating this content.)

Watch Live | Source Article