Enviro Infra Engineers IPO now open for subscription: Should you apply?
Delhi-based Enviro Infra Engineers is selling its shares in the price band of Rs 140-148 apiece. Investors can apply for a minimum of 101 shares and its multiples.
- Nov 22, 2024,
- Updated Nov 22, 2024 10:20 AM IST
The initial public offering (IPO) of Enviro Infra Engineers opens for bidding today, that is, Friday, November 22. The company is selling its shares in the range of Rs 140-148 per share where investors can apply for a minimum of 101 equity shares and its multiples thereafter. The three-day bidding for the issue shall conclude on Tuesday, November 26.
The asking price of the issue corresponds to a P/E ratio of 21.67 times (on annualized FY25 earnings), and based on FY24 earnings, the P/E ratio stands at 23.90 times, suggesting the IPO is fully priced, said Bajaj Broking with a 'subscribe for long-term' rating. "However, the debt of Rs 305 crore as of June 30, 2024, raises some concerns," it said.
The initial public offering (IPO) of Enviro Infra Engineers opens for bidding today, that is, Friday, November 22. The company is selling its shares in the range of Rs 140-148 per share where investors can apply for a minimum of 101 equity shares and its multiples thereafter. The three-day bidding for the issue shall conclude on Tuesday, November 26.
The asking price of the issue corresponds to a P/E ratio of 21.67 times (on annualized FY25 earnings), and based on FY24 earnings, the P/E ratio stands at 23.90 times, suggesting the IPO is fully priced, said Bajaj Broking with a 'subscribe for long-term' rating. "However, the debt of Rs 305 crore as of June 30, 2024, raises some concerns," it said.