Sewage Solutions Firm Enviro Infra's IPO Oversubscribed by 89.9 Times

The IPO of Enviro Infra Engineers, a sewage treatment solutions provider, was oversubscribed by 89.90 times. The company aims to raise funds for working capital, debt repayment, and a new sewage treatment plant. It received substantial interest from institutional, non-institutional, and retail investors.

The initial public offering (IPO) of Enviro Infra Engineers, a prominent sewage treatment solutions provider, saw overwhelming interest, being subscribed 89.90 times on its closing day, Tuesday. According to data from the NSE, bids were received for 2,76,83,13,747 shares as opposed to the 3,07,93,600 shares that were on offer.

Among the different investor categories, qualified institutional buyers were the most enthusiastic, with this segment of the IPO enjoying a subscription rate of 157.05 times. Non-institutional investors were not far behind, subscribing at 153.80 times, while retail individual investors subscribed 24.48 times.

On Thursday, Enviro Infra Engineers secured approximately Rs 195 crore from anchor investors. The IPO aims to amass Rs 650 crore, priced in the range of Rs 140-148 per share, through a mix of fresh equity and an offer for sale by promoters. The funds will be allocated towards working capital, debt repayment, and a significant investment into a new sewage treatment plant.

(With inputs from agencies.)