The pricing range for the Enviro Infra Engineers Limited initial public offering (IPO) has been set between ₹140 and ₹148 for each equity share with a face value of ₹10. The Enviro Infra Engineers’ initial public offering (IPO) subscription period is set for Friday, November 22, and will end on Tuesday, November 26. On Thursday, November 21, the Enviro Infra Engineers IPO’s allocation to anchor investors is planned.
The equity shares have a floor price of 14 times their face value and a cap price of 14.80 times their face value. In comparison to the average industry peer group P/E ratio of 33.45 times, the company’s price-to-earnings ratio based on diluted EPS for the fiscal year ended 2024 is as high as 18.20 times at the highest end of the price band and 17.22 times at the lower back. The initial public offering (IPO) lot size for Enviro Infra Engineers is 101 equity shares, with subsequent multiples of 101 equity shares.
The Enviro Infra Engineers IPO has set aside a minimum of 35% of the offer for retail investors, 50% of the shares for qualified institutional buyers (QIB), and 15% for non-institutional institutional investors (NII). Up to 1,00,000 equity shares have been set aside for employees, and qualified staff members are eligible for a discount of ₹13 per share.
On Wednesday, November 27, the firm is expected to finalize the IPO basis for allocating shares for Enviro Infra Engineers. On the same day, refunds will be initiated, and on Thursday, November 28, the shares will be credited to the allottees’ demat accounts. On Friday, November 29, the share price of Enviro Infra Engineers is probably going to be listed on the BSE and NSE.
Founded in 2009, Enviro Infra Engineers Limited specializes in designing, building, operating, and maintaining water and wastewater treatment facilities (WWTPs) and water supply programs (WSSPs) for government organizations. While WSSPs cover Water Treatment Plants (WTPs), pumping stations, and the installation of pipes for water distribution, WWTPs are made up of Sewage Treatment Plants (STPs), Sewerage Schemes (SS), and Common Effluent Treatment Plants (CETPs).
To develop WWTPs and WSSPs on an EPC or HAM model, the company participates in bids that are issued by state governments and urban local bodies (ULBs). Over the previous seven (7) years, the company has successfully constructed 28 WWTPs and WSSPs across India as of June 30, 2024, including 22 projects with a capacity of at least 10 MLD.
The company’s listed peers, according to the red herring prospectus (RHP), include Vishnu Prakash R Punglia Ltd (P/E of 25.31), ION Exchange Ltd (P/E of 38.68), Va Tech Wabag Ltd (P/E of 43.90), and EMS Ltd (P/E of 25.92).
Compared to the fiscal year that ended on March 31, 2023, Enviro Infra Engineers’ revenue increased by 116%, while their profit after tax (PAT) increased by 101%.
In the Enviro Infra Engineers’ first public offering (IPO), 3.87 crore equity shares will be issued, while the selling stockholders will sell 52.68 lakh shares.
The company plans to use the proceeds from the new issue to accomplish several goals, such as meeting working capital requirements, supporting our subsidiary EIEL Mathura Infra Engineers Private Limited (EIEL Mathura) in building a 60 MLD STP in Mathura, Uttar Pradesh, under the “Mathura Sewerage Scheme” initiative using the Hybrid Annuity Based PPP Mode, repaying or partially settling some existing borrowings, and promoting growth through unidentified acquisitions and all-purposes.
The book-running lead manager for Enviro Infra Engineers’ initial public offering (IPO) is Hem Securities Limited, while the registrar is Bigshare Services Pvt Ltd.
