Enviro Infra Engineers Limited’s IPO has performed well on the stock exchange. The stock, priced at Rs 148 during the issue, was listed on the National Stock Exchange (NSE) at Rs 220, marking a 48.65% gain.
On the Bombay Stock Exchange (BSE), the share opened at Rs 218, with a 47.30% increase. This means investors earned a profit of Rs 70 to Rs 72 per share.
After reaching a high of Rs 233.70 on NSE, the stock is now trading around Rs 218. The company’s market value has reached Rs 3,889 crore.
IPO Details and Fundraising
The IPO of Enviro Infra Engineers Limited was open from 22 November to 27 November 2024. The company set the price range at Rs 140 to Rs 148 per share, 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 of the company received a discount of Rs 13 per share.
Investor Demand and Financial Growth
The IPO saw a strong response, 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.
Financially, the company showed impressive growth in 2023-24. Its revenue reached Rs 738 crore, which is 116% higher than the previous year. The net profit was Rs 110.54 crore, a 110% increase from the last financial year.
Founded in 2009, Enviro Infra Engineers focuses on designing, building, and operating wastewater treatment plants and water supply projects for government agencies.
Strong Financial Growth
Enviro Infra Engineers has shown strong financial growth. In the financial year 2023-24, the company’s revenue increased by 116%, reaching Rs 738 crore. The net profit also rose by 110%, reaching Rs 110.54 crore.
The company, formed in 2009, specializes in designing, constructing, and operating wastewater treatment plants and water supply projects for government agencies.