The initial public offering (IPO) of Enviro Infra Engineers, a company specializing in sewage treatment and sewerage system projects, saw a robust response on its debut day, being fully subscribed.
NSE data revealed the IPO attracted bids for over 63.8 million shares against the 30.7 million shares available, reflecting an impressive 2.07 times subscription rate. Notably, the non-institutional investors’ segment was subscribed 2.98 times, while the QIBs category saw a 2.04 times subscription.
Having raised approximately Rs 195 crore from anchor investors earlier, the company aims to channel Rs 181 crore of the IPO proceeds toward working capital, Rs 100 crore for debt repayment, and Rs 30 crore for developing a new sewage treatment plant in Mathura.
(With inputs from agencies.)