 "Enviro Infra Engineers IPO closes today: Subscription zooms 12x, GMP up 32%")
Enviro Infra Engineers IPO Day 3: The three-day subscription window for the initial public offering (IPO) of Enviro Infra Engineers is set to close today. The public offering, which opened for subscription on Friday, November 22, 2024, has so far received strong participation from investors. NSE data shows that Enviro Infra Engineers has received bids for 38,52,17,131 shares against the 3,07,93,600 shares offered, resulting in an oversubscription of 12.51 times.
Non-Institutional Investors (NIIs) have placed the highest demand, subscribing 34.59 times the quota reserved for them. Retail investors and Qualified Institutional Buyers (QIBs) have also shown strong interest, oversubscribing their categories by 8.71 times and 2.58 times, respectively, by the second day of subscription.
Meanwhile, the unlisted shares of Enviro Infra Engineers continue to command a strong premium in the grey market, according to sources tracking unofficial markets. Enviro Infra Engineers' unlisted shares are trading at a premium of Rs 48 against the upper price band of Rs 148, indicating a GMP of 32.43 per cent.
Enviro Infra Engineers has received broadly positive reviews from brokerages, including Deven Choksey Research, Anand Rathi Research, Bajaj Broking, and Swastika Investmart, for its Rs 650.43 crore offering. READ MORE
Enviro Infra Engineers IPO is available at a price band of Rs 140–Rs 148 per share with a lot size of 101 shares. Accordingly, investors can bid for a minimum of 101 shares and in multiples thereof. Therefore, for a maximum bid of under Rs 200,000, a retail investor can bid for 1,313 shares, or 13 lots, in this IPO.
The basis of allotment for Enviro Infra Engineers' IPO is likely to be finalised on Wednesday, November 27, 2024. Subsequently, successful allottees will receive the shares in their demat accounts by Thursday, November 28, 2024.
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Shares of Enviro Infra Engineers are expected to debut on the bourses on Friday, November 29, 2024, with a listing on the National Stock Exchange (NSE) and the BSE.
Bigshare Services is the registrar for Enviro Infra Engineers, while Hem Securities is the sole book-running lead manager for the public issue.