Wastewater treatment solutions provider SFC Environmental refiles IPO papers, fresh issue size reduced to Rs 150 crore

SFC Environmental Technologies IPO

Navi Mumbai-based wastewater treatment solutions provider SFC Environmental Technologies has refiled its draft papers with the SEBI on August 25 to raise funds via initial public offering (IPO).

The IPO is a combination of fresh issuance of shares worth Rs 150 crore, and an offer-for-sale of 1.23 crore shares by existing shareholders including promoters Sandeep Sudhakar Asolkar, and Saketchandrasingh Pratapsingh Dhandoriya, as per the draft papers.

The company may consider raising funds up to Rs 30 crore in pre-IPO round. If it concludes pre-IPO placement, the fresh issue size will be reduced to the extent of said amount.

It has reduced the fresh issue size from earlier Rs 185 crore, and increased the offer-for-sale component from 1.08 crore shares. Earlier in December 2024, SFC Environmental Technologies had filed its IPO papers with the SEBI but in March this year, it has withdrawn the said draft document.

The environmental technology company offering engineering solutions in wastewater treatment, wastewater recycling & reuse, and solid waste treatment fields competes with three listed entities Thermax, Praj Industries, and Ion Exchange.

Click Here To Read All IPO News

Of the fresh issue proceeds, Rs 47.5 crore will be used for repayment of certain outstanding borrowings, Rs 69.7 crore for working capital requirements, and the remainder for general corporate purposes.

"As of June 2025, the total consolidated outstanding borrowings amounted to Rs 152.3 crore," SFC Environmental said.

The company, wherein promoters hold 48.17 percent stake and the remainder 51.83 percent shares are owned by public, has recorded profit at Rs 152 crore in the year ended March 2025, soaring 5.4 percent over Rs 144.2 crore in the previous year. Revenue during the same period rose 6.1 percent to Rs 697.9 crore, up from Rs 657.5 crore.

The merchant bankers handling the SFC Environmental Technologies IPO are IIFL Capital Services, JM Financial, and Nuvama Wealth Management.