Schedule of Envirotech Systems
| Issue open date | 13 Sep 2024 |
| Issue close date | 19 Sep 2024 |
| UPI mandate deadline | 19 Sep 2024 (5 PM) |
| Allotment finalization | 20 Sep 2024 |
| Refund initiation | 23 Sep 2024 |
| Share credit | 23 Sep 2024 |
| Listing date | 24 Sep 2024 |
| Mandate end date | 04 Oct 2024 |
| Lock-in end date for anchor investors (50%) | 20 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 19 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Envirotech Systems
Incorporated in 2007, Envirotech Systems is an acoustic products manufacturing organization specializing in noise measurement and control for industrial and commercial applications. It offers cost-effective solutions for various acoustical challenges in industrial, commercial, architectural, and environmental markets. Some of its product offerings include Noise test booths, Engine test room acoustics, Anechoic & Semi-anechoic chamber, Acoustic enclosure, Envirotech noise barriers, PolyCarbonate Noise barriers, Metallic noise barriers, Echo barriers, Acoustic louvers, Envirotech metal doors. The company has a track record of various successful projects in industries such as Oil & Gas, Manufacturing, Power Generation, Cement & Steel, Automobile, and Construction.
Financials of Envirotech Systems
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹30.24 crores |
| Fresh Issue | ₹30.24 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Purchase Land and Building for setting up factory | 12 (39.68%) |
| Working capital requirements | 8 (26.46%) |
| Issue related expenses | 2.68 (8.86%) |
| General corporate purposes | 7.56 (25%) |
Strengths
- The company has implemented a wide range of networking channels throughout the industry to strengthen the scope of identifying the core customer base and designing right marketing strategies for procurement and liaising of projects to deliver customized solutions for clients.
- To drive innovation and cost-effectiveness, the company’s well-established R&D department employs computer-aided tools and efficient personnel. Its research activities focus on market research, continual product development, and improved product and production technologies.
- The company is focused on delivering professional and concise solutions for noise control needs.
Risks
- The company has experienced negative cash flows in its operating, investing, and financing activities in the past.
- 50% of the company’s revenues have been dependent upon few customers. The loss of any one or more of the major clients would have a material adverse effect on the business operations and profitability.
- The company requires significant amounts of working capital for continued growth. Any inability to meet its working capital requirements may adversely affect the results of operations.
- Changes in technology may affect the business by making the equipment or products less competitive or obsolete.
- All of the company’s product verticals are competitive segments and the company faces the risk of competition affecting the margins and profitability as it scales its operations. There may be a potential impact on the profitability if any big market player enters in this industry.