Enviro Infra Engineers Limited’s IPO has performed well on the stock market.
The share, priced at Rs 148 during the issue, was listed on the National Stock Exchange (NSE) at Rs 220, showing a gain of 48.65%.
On the Bombay Stock Exchange (BSE), the stock opened at Rs 218, marking a 47.30% increase.
This means investors gained Rs 70 to Rs 72 per share.
The stock reached a high of Rs 233.70 on the NSE but is now trading around Rs 218.
The company’s market value has now reached Rs 3,889 crore.
IPO Details and Investor Demand
Enviro Infra Engineers Limited’s IPO was available from November 22 to November 27, 2024.
The price range for the shares was set at Rs 140 to Rs 148, with each share having a face value of Rs 10.
The IPO raised a total of Rs 650.43 crore, with Rs 572.46 crore from the fresh issue and Rs 77.97 crore through an offer for sale.
Employees received a Rs 13 per share discount.
The IPO saw a strong demand, being oversubscribed by 89.90 times.
The institutional investor quota was subscribed 157.05 times, the non-institutional investor quota was subscribed 153.80 times, and the retail investor quota was subscribed 24.48 times.
Strong Financial Growth and Company Background
Enviro Infra Engineers has demonstrated impressive financial growth. In 2023-24, the company’s revenue reached Rs 738 crore, a 116% increase from the previous year.
The net profit also rose by 110%, reaching Rs 110.54 crore.
Founded in 2009, the company focuses on designing, building, and operating wastewater treatment plants and water supply projects for government agencies.
