Enviro Infra Engineers IPO Day 3: The three-day subscription period for Enviro Infra Engineers’ initial public offering (IPO) is set to close on Tuesday. Launched on Friday, November 22, 2024, the IPO has attracted strong investor interest. According to NSE data, the offering has received bids for 38,52,17,131 shares, compared to the 3,07,93,600 shares available, resulting in an oversubscription of 12.51 times.
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Non-Institutional Investors (NIIs) have demonstrated the strongest demand, subscribing 34.59 times the portion allocated to them. Retail investors and Qualified Institutional Buyers (QIBs) have also shown significant interest, with their respective categories oversubscribed by 8.71 times and 2.58 times by the second day of the offering.
Enviro Infra Engineers’ unlisted shares continue to trade at a substantial premium in the grey market, according to a report from Business Standard citing sources. The shares are currently commanding a premium of Rs 48 over the upper price band of Rs 148, reflecting a Grey Market Premium (GMP) of 32.43 per cent.
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The company’s Rs 650.43 crore IPO has mainly garnered positive reviews from brokerages, including Deven Choksey Research, Anand Rathi Research, Bajaj Broking, and Swastika Investmart.
The IPO is priced between Rs 140 and Rs 148 per share, with a lot size of 101 shares. Investors can place bids for a minimum of 101 shares and in multiples thereof. For a maximum bid of up to Rs 200,000, retail investors can bid for 1,313 shares, or 13 lots, in this offering.
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The basis of allotment for Enviro Infra Engineers’ IPO is expected to be finalised on Wednesday. Successful applicants will have their shares credited to their demat accounts by Thursday. The company’s shares are slated to debut on the stock exchanges on Friday, with listings on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
