Enviro Infra Engineers IPO GMP rises to nearly 22% ahead of Friday launch despite weak market

Enviro Infra Engineers is engaged in designing, construction, operation and maintenance of water and wastewater treatment plants and water supply scheme projects for government authorities/bodies.

Enviro Infra Engineers IPO GMP has surged to nearly 22 percent, reflecting strong investor interest ahead of the Rs 650-crore share sale slated to open on November 22.

The sharp rise in the grey market premium for Enviro Infra Engineers contrasts with a flat GMP trend seen in the ongoing Rs 10,000-crore NTPC Green Energy IPO.

Enviro Infra Engineers, a key player in developing turnkey sewage treatment plants and sewerage systems, has set a price band of Rs 140-148 per equity share for its maiden public issue.

According to IPO Watch and Chittorgarh platforms tracking the grey market activities, the company’s shares are commanding a premium of Rs 32-35 in the unofficial market, indicating a 22 percent listing gain for the investors.

The IPO, which comprises a fresh issue of 3.87 crore equity shares and an Offer for Sale (OFS) of 52.68 lakh shares by the promoters, will remain open for public subscription from November 22 to November 26.

Enviro Infra Engineers sets IPO price band at Rs 140-148 per share; eyes Rs 650 crore

Enviro Infra Engineersspecialises in the design, construction, and maintenance of water and wastewater treatment projects, as well as water supply schemes for government authorities.

The company employs a zero-liquid discharge-compliant treatment process at most of its sewage treatment plants (STPs), enabling the reuse of treated water for horticulture, industrial processes, washing, and refrigeration.

The high grey market premium in the unofficial market is seen in the backdrop of market volatility amid a sharp sell-off in Adani group stocks, rising geopolitical tensions and persistent foreign institutional investor (FII) outflows.

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