Enviro Infra Engineers IPO subscribed 89.90 times

The archetypal nationalist connection of sewage attraction solutions supplier Enviro Infra Engineers was subscribed 89.90 times connected the closing time of bidding connected Tuesday.

The archetypal stock merchantability received bids for 2,76,83,13,747 shares against 3,07,93,600 shares connected offer, arsenic per NSE data.

The information for qualified organization buyers fetched 157.05 times subscription portion the class for non-institutional investors got subscribed 153.80 times. The Retail Individual Investors portion attracted 24.48 times subscription.

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

The Rs 650-crore archetypal stock merchantability is successful the 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.

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.