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Enviro Infra Engineers IPO is a book-built issue of Rs 650.43 crores. The issue is a combination of a fresh issue of 3.87 crore shares aggregating to Rs 572.46 crores and an offer for sale of 0.53 crore shares aggregating to Rs 77.97 crores.
The IPO opens for subscription on November 22, 2024, and closes on November 26, 2024. The price band for the IPO is set at ₹140 to ₹148 per share and the minimum lot size for an application is 101 Shares.
Company Summary
Enviro Infra Engineers Limited was established in 2009 and is engaged in the design, construction, operation, and maintenance of water and Waste-Water Treatment Plants (WWTPs) and water supply projects (WSSPs) for government agencies/entities. WWTPs include Sewage Treatment Plants (STPs), Sewerage Schemes (SS), and Common Effluent Treatment Plants (CETPs) while WSSPs include Water Treatment Plants (WTPs) along with pumping stations and the laying of pipelines for water supply.
The company participates in tenders floated by state governments and ULBs (Urban Local Bodies) for developing WWTPs and WSSPs on an EPC or HAM basis. Till June 30, 2024, the Company has successfully developed 28 WWTPs and WSSPs across India in the last seven (7) years, including 22 projects of 10 MLD capacity and above.
Company Strengths
- In-house design, engineering, and execution team.
- Growing presence in existing regions with new projects.
- Diversified order book of projects across India.
- In-house execution capabilities with on-time delivery and an established track record of consistently increasing eligibility for high-value project tenders.
- Use of advanced technologies in the construction and installation of WWTPs or WSSPs.
- Experienced promoters and senior management team.
- Consistent financial performance.
Company Financials
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 812.87 | 761.19 | 347.58 | 148.27 |
| Revenue | 207.46 | 738 | 341.66 | 225.62 |
| Profit After Tax | 30.78 | 110.54 | 54.98 | 34.55 |
| Net Worth | 323 | 292.18 | 126.51 | 71.62 |
| Reserves and Surplus | 186.29 | 155.51 | 101.11 | 69.31 |
| Total Borrowing | 305.59 | 233.59 | 64.54 | 18.11 |
Amount in ₹ Crore | ||||
Objectives of the issue
The Company proposes to utilize the Proceeds from the Fresh Issue towards funding the following objectives
- To meet the Working Capital Requirements.
- Infusion of funds in our Subsidiary, EIEL Mathura Infra Engineers Private Limited (EIEL Mathura) to build 60 MLD STP under the project titled ‘Mathura Sewerage Scheme” at Mathura in Uttar Pradesh through Hybrid Annuity Based PPP Mode.
- Repayment/prepayment in full or in part, of certain of our outstanding borrowings.
- Funding inorganic growth through unidentified acquisitions and general corporate purposes.
Promoters of the company
The Promoters of the Company are Sanjay Jain, Manish Jain, Ritu Jain, and Shachi Jain. The Promoters, in the aggregate, hold 3,70,94,280 Equity Shares of the face value of ₹ 10 each in the Company, representing 99.97% of the pre-offer issued, subscribed, and paid-up Equity Share capital of the Company.
IPO details
| IPO Date | November 22, 2024 to November 26, 2024 |
| Listing Date | Friday, November 29, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹140 to ₹148 per share |
| Lot Size | 101 Shares |
| Total Issue Size | 43,948,000 shares (aggregating up to ₹650.43 Cr) |
| Fresh Issue | 38,680,000 shares (aggregating up to ₹572.46 Cr) |
| Offer for Sale | 5,268,000 shares of ₹10 (aggregating up to ₹77.97 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocations details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 101 | ₹14,948 |
| Retail (Max) | 13 | 1313 | ₹194,324 |
| S-HNI (Min) | 14 | 1,414 | ₹209,272 |
| S-HNI (Max) | 66 | 6,666 | ₹986,568 |
| B-HNI (Min) | 67 | 6,767 | ₹1,001,516 |
Allotment Schedule
| Basis of Allotment | Wednesday, November 27, 2024 |
| Initiation of Refunds | Wednesday, November 27, 2024 |
| The credit of Shares to Demat | Thursday, November 28, 2024 |
| Listing Date | Friday, November 29, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 26, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
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