Enviro Infra Engineers Sets IPO Price Band, Aims for Rs 650 Crore

Enviro Infra Engineers has announced a price band of Rs 140-148 per share for its upcoming Rs 650 crore Initial Public Offering (IPO), which opens for subscription on November 22. The IPO includes a fresh issue and an Offer For Sale. Proceeds will be utilized for working capital, debt payment, and a new sewage treatment project.

Enviro Infra Engineers, a key player in the sewage treatment industry, has set a price range of Rs 140-148 per share for its Initial Public Offering (IPO), targeting to raise Rs 650 crore. The IPO, opening on November 22, consists of a fresh equity issue and an Offer For Sale from promoters.

A significant stake of the proceeds, amounting to Rs 181 crore, is earmarked to fulfill working capital needs, while Rs 100 crore will address the company's debt. Additionally, Rs 30 crore is designated for developing a new sewage treatment plant in Mathura, Uttar Pradesh, through its subsidiary.

Enviro Infra Engineers specializes in infrastructure projects for water and wastewater systems, with treatment facilities that adhere to zero liquid discharge norms. The IPO's shares will be listed on the BSE and NSE by November 29, providing substantial opportunities for institutional and retail investors.

(With inputs from agencies.)