Enviro Infra Engineers IPO Last Date: Subscribed about 90 times; should you apply in the last hours?
The initial public offering (IPO) of Enviro Infra Engineers, an infrastructure company that operates, builds, and operates Wastewater Treatment Plants (WWTPs) and Water Supply Systems (WSSPs) for the government is open for subscription on November 22, 2024. The IPO bidding process will close today (November 26, 2024) at 4:50 pm.
Enviro Infra Engineers IPO | Subscription status?
The IPO was subscribed nearly 90 times in the last hours of application at 3:51 pm, investors applied for 2,74,07,04,993 shares out of a total of 3,07,93,600 shares. Qualified institutional buyers (QIBs) applied in higher numbers ie 1,37,71,91,257 or 157.04 times as against 87,69,600 shares.
The Non Institutional Investors (NIIs) segment received the second highest bids, 152.93 times subscription or 1,00,58,79,301 shares applied for, against 65,77,200 shares reserved. During that period, the Employee segment received bids for 36,16,911 shares or 36.17 times.
Retail Individual Investors (RIIs) showed the lowest interest with 23.07 times subscription or 35,40,17,524 shares applied, against 1,53,46,800 shares reserved.
The issue size of the IPO is Rs 650.43 crores with a total of 3,86,80,000 shares on offer. The company has set a price band between Rs 140 and Rs 148.
Enviro Infra Engineers IPO | Should you apply at the last minute?
Analysts at domestic firm SBI Securities have recommended the Enviro Infra Engineers IPO with a view to listing benefits due to its price band. Compared to other peers like Va Tech and Ion Exchange, the company has fixed the price band at a lower price (Rs 140-148).
“The issue appears to be attractively priced in many areas of analysis,” said analysts.
Another domestic brokerage KRChoksey has assigned a “subscription” rating to Enviro Infra Engineers. The brokerage did not say whether it is for long term or short term.
