The shares of Enviro Infra Engineers were listed on the NSE at Rs 220 each, a 48.65 per cent premium over the issue price of Rs 148, marking the company’s spectacular debut on Dalal Street on Friday, November 29. Opening at Rs 218 on the BSE, the stock represented a 47.29 per cent premium.
Listing gains for investors
Investors who received IPO shares also benefited from the strong listing. The minimum bid amount for retail IPO investors was 101 shares. At the NSE listing price, IPO investors who were alloted at least one lot in the Enviro Infra Engineers issue would have earned Rs 7,272 per lot.
The single lot was worth 22,220 (Rs 220 x 101) at the listing price of Rs 220, and Rs 14,948 (101 x Rs 148) at the issue price.
Share performance
The share of Enviro Infra Engineers were trading at Rs 212.54 per share on the NSE with a slight decline of 3.39 per cent ammounting to Rs 7.46 per share on the NSE (National Stock Exchange).
Enviro Engineers IPO details
Issue size and structure
The Rs 650-crore Enviro Infra Engineers IPO consists of 52.68 lakh shares and 3.87 crore new equity shares that the promoters, who currently own more than 93 per cent of the company’s shares, are offering for sale.
50 per cent of the issue has been set aside by the company for QIBs, 35 per cent for retail investors, and 15 per cent for NIIs.
Price band and minimum bid
A price range of Rs 140 to Rs 148 per share has been established for the IPO. To participate in the IPO, retail investors must bid on a minimum of 101 shares, or a minimum investment of Rs 14,948.
To participate in the issue, Small Non-Institutional Investors (sNIIs) must bid on a minimum of 14 lots, comprising of 1,414 shares, for a total investment of Rs 2,09,272. With a minimum investment of Rs 10,01,516 Big Non-Institutional Investors (bNIIs) can bid on 67 lots, containing 6,767 shares.
Subscription across all categories
Investors responded overwhelmingly to the initial public offering (IPO), which was oversubscribed by 89 times. Qualified Institutional Buyers (QIBs) showed particular interest in the offering.
Exchange data shows that the Non-Institutional Investors (NII) portion was oversubscribed 153 times, and the QIB segment was oversubscribed 157 times. The issue’s retail portion was 24.48 times oversubscribed.
Subscription timeline
The initial public offering ended on Tuesday, November 26. The period for subscriptions began on November 22. The finalization of the IPO share allocation status took place on Wednesday, November 27.
