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

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 was subscribed 12.52 times on the second day of the offer on November 25.

The initial share sale of the company involved in development of turnkey projects of sewage treatment plants and sewerage system, got fully subscribed on the first day of the offer on Friday.

Enviro Infra Engineers IPO received bids for 38.55 crore shares against 3.07 crore shares on offer, according to NSE data.

The portion for non-institutional investors attracted 34.6 times subscription while the qualified institutional buyers (QIBs) part got subscribed 2.58 times. The category for retail individual investors (RIIs) fetched 8.73 times subscription.

Earlier, it collected about Rs 195 crore from anchor investors.

The Rs 650-crore initial share sale is in a price range of Rs 140-148 apiece.

Enviro Infra IPO GMP has climbed to approximately 35 percent, according to market observers. According to IPO tracking platforms such as IPO Watch and Investorgain, shares of Enviro Infra are trading at a premium of Rs 50-52 in the unofficial market. The strong GMP indicates positive investor sentiment ahead of the company's listing.

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

The grey market premium (GMP) for the initial public offering (IPO) is an indicator of how shares are expected to perform upon listing, though experts caution that it may not always reflect the actual market performance.

The initial public offering (IPO) of Enviro Infra Engineers comprises a fresh issue of 3.87 crore equity shares and an offer for sale (OFS) of 52.68 lakh shares by the company's promoters. Currently, the promoters hold more than 93 percent of the company's equity.

Shares of the company are likely to be allotted to successful bidders on November 27, while the share listing will take place on November 29.

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