Enviro Infra Engineers Limited, a company that focuses on designing, building, and maintaining water and wastewater treatment plants, is all set to launch its Initial Public Offering (IPO) this week. If you’re looking to invest, here’s breakdown of everything you need to know about the Enviro Infra Engineers IPO.
IPO Launch Date and Timeline
The Enviro Infra Engineers IPO will open for subscription on Friday, November 22, 2023. Investors can apply until Tuesday, November 26, 2023. The company plans to raise around Rs 650.43 crore through this IPO, which consists of a combination of new share issuance and the sale of shares by the promoters.
IPO Price Band
The IPO price has been fixed in the range of Rs 140 to Rs 148 per share. This means investors can buy shares in this price band depending on the demand and the subscription received during the offering.
Lot Size
The minimum order for investing in the IPO is 101 shares. The lot size is fixed, and any further shares need to be purchased in multiples of 101.
The shares available in this IPO will be divided among various types of investors:
- Qualified Institutional Buyers (QIBs): 50% of the shares are reserved for institutional investors.
- Non-Institutional Investors (NIIs): 15% of the shares are allocated for non-institutional investors.
- Retail Investors: 35% of the shares will be available for retail investors, making this IPO more accessible to individual investors.
The Grey Market Premium (GMP) for Enviro Infra Engineers’ IPO serves as a key signal of the market’s outlook on the IPO’s listing performance. As of the latest update, the GMP is Rs 31. This suggests that the shares are expected to be listed at a premium, meaning they could be trading at Rs 179 per share on the listing day . This is 20.95% higher than the IPO price of Rs 148.
GMP can change daily, and although it gives an idea of the market’s expectations, it is not a guarantee. So, while the trend looks positive, investors should always conduct their own research before making any investment decisions.
How the IPO Works
The IPO of Enviro Infra Engineers is made up of two primary components:
- Fresh Issue of Shares: The company will issue 3.87 crore shares to raise capital for business growth and expansion.
- Offer for Sale (OFS): The promoters will sell 52.68 lakh shares as part of the IPO. This is essentially a method for the promoters to decrease their ownership in the company.
Key Dates to Remember
- IPO Open Date: Friday, November 22, 2023
- IPO Close Date: Tuesday, November 26, 2023
- Anchor Investor Allocation: Thursday, November 21, 2023
- Share Allocation Date: Wednesday, November 27, 2023
- Refunds Processed: Wednesday, November 27, 2023
- Shares Listed on Stock Exchanges: Friday, November 29, 2023
Before applying for the IPO, it’s important to carefully consider the financial health of the company, the prospects of the water and wastewater treatment industry, and your own risk tolerance.
Enviro Infra Engineers has a strong history of executing projects for both government and private clients, making it a well-established player in its field. However, like any investment, there are risks involved, and market conditions can impact the IPO’s performance.
while the GMP and industry outlook suggest positive sentiment around the IPO, make sure to evaluate your financial goals and conduct thorough research before making any investment decisions.
By understanding these key aspects, you can make a more informed decision about whether the Enviro Infra Engineers IPO fits into your investment strategy.
