Enviro Infra Engineers IPO Closed
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Schedule of Enviro Infra Engineers
| Issue open date | 22 Nov 2024 |
| Issue close date | 26 Nov 2024 |
| UPI mandate deadline | 26 Nov 2024 (5 PM) |
| Allotment finalization | 27 Nov 2024 |
| Refund initiation | 27 Nov 2024 |
| Share credit | 28 Nov 2024 |
| Listing date | 29 Nov 2024 |
| Mandate end date | 11 Dec 2024 |
| Lock-in end date for anchor investors (50%) | 27 Dec 2024 |
| Lock-in end date for anchor investors (remaining) | 25 Feb 2025 |
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 Enviro Infra Engineers
Enviro Infra Engineers specializes in designing, constructing, operating, and maintaining Water and Wastewater Treatment Plants (WWTPs) and Water Supply Scheme Projects (WSSPs) for government authorities, including Zero Liquid Discharge (ZLD) compliant facilities. Their projects are funded under Central and State Government schemes like AMRUT, NMCG, and JJM, and they bid for tenders on an EPC or HAM basis. With 28 successful projects over the past seven years and a ₹1,90,628.06 lakh order book as of June 30, 2024, they also partner with other companies for joint project execution. Supported by a skilled in-house team of 180 engineers, they handle all aspects of project design, construction, and maintenance. Focused on sustainable development, they integrate solar power and Compressed Bio Gas (CBG) plants into projects, contributing to renewable energy and reduced carbon footprints, with 7 out of 21 ongoing projects aligned with these initiatives.
Financials of Enviro Infra Engineers
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹650.43 crores |
| Fresh Issue | ₹572.46 crores |
| Offer for sale | ₹77.97 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working Capital Requirements | 181 (31.62%) |
| Infusion of funds in subsidiary | 30 (5.24%) |
| Repayment/prepayment of outstanding borrowings | 120 (20.96%) |
| General corporate purposes | 241.46 (42.18%) |
Strengths
- Expertise in Zero Liquid Discharge water and wastewater treatment projects.
- Strong order book backed by 28 completed large-scale projects as of June 30, 2024.
- Sustainability focus with solar power and bio-gas integration in operations.
- In-house team of 180 engineers ensures quality and minimizes third-party dependency.
Risks
- Dependence on government contracts risks delays, cancellations, or low approvals.
- High debt reliance may strain financial stability and profitability.
- Early-stage bio-gas and renewable energy projects face execution and adoption risks.
- Regulatory non-compliance could harm operations and reputation.
Subscription Figures for Enviro Infra Engineers
Subscription numbers as of 5:00 PM on 22 Nov 2024:
| Category | Shares Reserved | Shares Bid | Subscription (No. of times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 87,69,600 | 1,04,45,016 | 1.19 |
| Non Institutional Investors | 65,77,200 | 1,02,56,752 | 1.56 |
| Retail Individual Investors (RIIs) | 1,53,46,800 | 1,13,98,860 | 0.74 |
| Employees | 1,00,000 | 1,24,533 | 1.25 |
| Total | 3,07,93,600 | 3,22,25,161 | 1.05 |