Enviro Infra Subscription Completed: Allotment Scheduled For November 27

Enviro Infra Engineers IPO allotment is expected to be finalised on Wednesday, November 27. This comes after the subscription period closed with a strong demand from investors.

IPO Subscription Details

Enviro Infra Engineers IPO was open for bidding from November 22 to November 26. The IPO received an overwhelming response during the three-day subscription period, with the mainboard issue being booked 89.9 times across all investor categories.

The price band for the IPO was set at ₹140 to ₹148 per share.

• Qualified Institutional Buyers (QIBs) led the charge, subscribing 157.05 times their allocated portion.
• Non-Institutional Investors (NIIs) subscribed 153.8 times their reserved portion.
• Retail investors subscribed 24.48 times their allocation.

IPO Listing Date and Share Debut

Enviro Infra Engineers’ shares are scheduled to debut on the BSE and NSE. The tentative IPO listing date has been set for November 29.

How to Check IPO Allotment Status

Investors can check their IPO allotment status through the following platforms:

• NSE Website
• BSE Website
• IPO Registrar: Bigshare Services Pvt. Ltd.

Successful applicants will receive their shares in their Demat accounts on November 28, while refunds for unsuccessful bidders will be initiated on November 27.

About Enviro Infra Engineers IPO

Enviro Infra Engineers is aiming to raise a total of ₹650.43 crore through its IPO. The issue comprises:

• A fresh issue of 3.87 crore equity shares
• An offer-for-sale (OFS) of 52.68 lakh shares by the promoters

The company plans to use the proceeds from the fresh issue for several strategic and operational purposes:

• ₹181 crore will be allocated to meet working capital requirements.
• ₹100 crore will be used for debt repayment.
• ₹30 crore will be infused into its subsidiary, EIEL Mathura Infra Engineers, to build a 60 million litres per day sewage treatment plant in Mathura, Uttar Pradesh.
• The remaining funds will support general corporate purposes and aid in the company’s overall growth.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.