Enviro Infra IPO subscribed 89.9x on Day 3; NII, retail lead even as GMP declines marginally

Enviro Infra Engineers IPO is a combination of a fresh issue of 3.87 crore equity shares and an offer for sale (OFS) component of 52.68 lakh shares by promoters.

Enviro Infra Engineers IPO subscription status has reached a whopping 89.9 times on the last day of its bidding on November 26 at a price band of Rs 140-148 apiece.

The Rs 650-crore initial public offering (IPO) of Enviro Infra received bids for over 276.8 crore shares against 3.07 crore shares on offer, according to the NSE data.

The category for non-institutional investors fetched 153.8 times subscription while the portion for retail individual investors (RIIs) got subscribed 24.48 times. The qualified institutional buyers (QIBs) part received 157.05 times subscription. Earlier, the it collected about Rs 195 crore from anchor investors.

Meanwhile, Enviro Infra IPO has declined marginally on the concluding day of its issue on Tuesday. According to market observers tracking the grey market premium activities, the shares of the company are commanding a premium of Rs 48 in the unofficial market, indicating a listing premium of around 32 percent.

The current GMP is a marginal decline from an earlier premium of Rs 52.

Enviro Infra IPO GMP surges 35% on Day 2 of subscription; issue booked 12.52x

The company's IPO is a combination of a fresh issue of 3.87 crore equity shares and an offer for sale (OFS) component of 52.68 lakh shares by promoters. Currently, promoters hold over 93 per cent stake in Enviro Infra Engineers.

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.

The share allotment is likely to take place on November 27 on the official website of the registrar, Bigshare Services Private Limited, while the listing of shares is proposed to take place on November 29.

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