Enviro Infra Engineers is scheduled to finalize the basis of allotment of its shares most likely on Wednesday, November 27. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Thursday, November 28. The IPO had received a strong response from the investors during the three-day bidding.
Enviro Infra Engineers sold its IPO in the price band of Rs 140-148 per share with a lot size of 101 shares, which was open for bidding between November 22 and November 26. It aimed to raise Rs 650.30 crore via IPO, which includes a fresh share sale of Rs 572.46 crore, and an offer-for-sale (OFS) of up to 52.68 lakh equity shares.
The issue was overall subscribed a bumper 89.90 times, thanks to all round demand. The portion for qualified institutional bidders (QIBs) was booked 157.05 times, while the quota for non-institutional investors (NIIs) was subscribed 153.80 times. The allocations for employees and retail investors were subscribed 37.77 times and 24.48 times, respectively.
Established in 2009, Enviro Infra Engineers is engaged in the design, construction, operation, and maintenance of water and Waste-Water Treatment Plants (WWTPs) and water supply projects (WSSPs) for government agencies/entities, along with pumping stations and the laying of pipelines for water supply.
The grey market premium of Enviro Infra Engineers has seen correction amid the volatility and selloff in the broader markets. Last heard, the company was commanding a premium (GMP) of Rs 45-50 per share in the unofficial market, suggesting a listing pop of about 33 per cent for the investors. The GMP stood at Rs 52 when the bidding for the issue kicked-off for bidding.
Brokerages had positive views on the issue suggesting investors to subscribe to it citing the strong financials, robust & diversified order book, reasonable valuations, experience promoters and consistent execution are the key positives of the company. However, dependence on government tenders, capital intensive nature of business and rising competition are the major risks for it.
Hem Securities is the sole book running lead manager of the Enviro Infra Engineers IPO, while Bigshare Services is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Friday, November 29 as the tentative date of listing.
Investors, who had bid for the issue of Enviro Infra Engineers, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Enviro Infra Engineers Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit
Investors can also check the allotment status on the online portal of Bigshare Services Limited (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of Bigshare Services Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You shall be required to select either one of the three modes: Application number/CAF No, Beneficiary ID, or PAN ID.
4) Enter the details of the mode you selected in Step 2
5) For security purposes, fill the captcha accurately
6) Hit Search to know your allotment status