Enviro Infra Engineers debuts on D-Street: Check details

Enviro Infra Engineers made a strong debut on the bourses today. On the NSE, the stock listed at a premium of 49 per cent at Rs 220 against the IPO issue price of Rs 148 per share, while on the BSE, it listed with gains of over 47 per cent.

The Rs 650.43 crore issue comprised a fresh issue of 38,680,000 shares and an offer for sale  (OFS) of 5,268,000 shares, with a face value of Rs 10 each. The public offering was available in a price band of Rs 140-148, with a lot size of 101 shares.

Opened between November 22- November 26, 2024, the issue garnered a total subscription of 89.9 times, with the Qualified Institutional Buyers (QIBs) leading the bids with over 157.05 times bid.

Anil Snghvi's view

Zee Business Managing Editor Anil Singhvi in his pre-listing view said the company may list with a decent premium given the strong subscription. Also he mentioned that small issues as well as small companies relatively see a bigger action in contrast to large companies.

The market wizard expected the listing to be around Rs 200 per share.

He also advised short term investors to keep a stop loss of Rs 185 per share to protect their profit and then continue to hold the scrip.

Enviro Infra Engineers, an infrastructure company that operates, constructs, and Wastewater Treatment Plants (WWTPs) and Water Supply Scheme Projects (WSSPs) for the government.