The company had fixed an upper price band of Rs 148 for the IPO and the stock debuted on the BSE at Rs 218. From its IPO price, the stock has already given multibagger returns of nearly 164%.
Around 10:30 am today, the stock’s traded volume stood at 284.75 lakh shares with a traded value of Rs 993.73 crore on the NSE. Meanwhile, the total traded quantity on the BSE was 18.84 lakh shares.
The company’s market capitalization stands over Rs 6,000 crore as of now.
The IPO, which closed on November 26, was met with overwhelming enthusiasm, with an 89.9x oversubscription. The IPO consisted of a fresh issue of 3.87 crore equity shares and an offer-for-sale of 52.68 lakh shares by the selling shareholders (promoters). At the upper end of the price band, the total value of the IPO stood at Rs 650.43 crore.
The company had informed that it intends to utilize the proceeds from the IPO for working capital needs, investments in a 60 MLD STP project in Mathura, Uttar Pradesh, debt repayment, and general corporate purposes.Also read: Year-ender 2024: Reliance Industries shares set to give negative returns for first time in 10 years
Founded in 2009 and headquartered in Delhi, Enviro Infra Engineers specializes in designing, constructing, and maintaining Water and Wastewater Treatment Plants (WWTPs) and Water Supply Scheme Projects (WSSPs). The company primarily serves government clients, contributing to critical water infrastructure projects across India.
With rising investor interest, a solid business model, and upcoming Q2 FY25 results set to be announced on December 18, 2024, the stock remains firmly in focus, driving optimism for continued growth.
Shares of the company ended at Rs 380.50 at close of trade, 15% above its previous close.
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