The IPO market is making big leaps and bounds in the nation these days, creating a buzz and also giving a hint of how investor sentiment is in the market. The Enviro Infra Engineers IPO is hitting the primary market today, and the question is – Should You Invest?
What Is Enviro Infra Engineers Limited?
The company provides water and wastewater management solutions across the nation, focusing on excellence and innovation. They deliver end-to-end services that meet the critical needs of both the municipal and industrial sectors.
Enviro Infra Engineers IPO Day 1: About The IPO
The company is launching a book-built issue of ₹650.43 crores. It is a combination of fresh issue of 3.87 crore shares, aggregating to ₹572.46 crores, and an Offer For Sale of 0.53 crore shares, aggregating to ₹77.97 crores.
Subscription Dates
The subscription for Enviro Infra Engineers IPO is open from today, 22 November 2024, and the closing date is 26 November 2024. The anticipated date for finalizing the IPO is 27 November 2024. Meanwhile, the tentative listing date on BSE and NSE is 29 November 2024.
Here Are The Other Details:
Price Band: The company has set the price band of the share as ₹140 to ₹148 per share
- Retail Investor Details-
- Minimum Lot Size: 101 shares
- Minimum Investment: ₹14,948
- sNII (Small and Non-Institutional Investors) Details:
- Minimum Lot Size: 14 lots (1,414 shares)
- Investment Amount: ₹209,272
- bNII (Big Non-Institutional Investors) Details:
- Minimum Lot Size: 67 lots (6,767 shares)
- Investment Amount: ₹1,001,516
The issue includes a reservation of up to 100,000 shares for employees offered at a discount of Rs 13 to the issue price.
Grey Market Premium(GMP)-
Accordinh to the report by chittorgarh broker comparision, The last GMP for Enviro Infra Engineers IPO is ₹38, as of 10:32 AM on November 22, 2024. the upper price band set at ₹148.00, the estimated listing price for the IPO is ₹186 (cap price + today’s GMP). This implies an expected gain of 25.68% per share.
Hem Securities Limited is the book running lead manager of the Enviro Infra Engineers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Should You Apply?
The outlook on the IPO of Enviro Infra Engineers looks positive, as Reliance Securities, SMIFS, and Geojit suggest subscribing to the IPO, while Swastika Investmart suggests subscribing as a long-term investment.
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