Fri Nov 22 11:09:21 UTC 2024: ## Enviro Infra Engineers IPO Opens, Shows Strong Grey Market Premium

**MUMBAI, INDIA – November 22, 2023** – Enviro Infra Engineers Ltd., a wastewater management company, launched its initial public offering (IPO) today, aiming to raise ₹650.43 crore (approximately $78 million USD). The IPO, which will close on November 26th, offers shares at a price band of ₹140 to ₹148 per share. The company plans to issue 38.68 million fresh shares to raise ₹572.46 crore, with an additional ₹77.97 crore expected from an offer-for-sale (OFS) of existing shares.

The IPO got off to a strong start, having already raised ₹194.6 crore from anchor investors at ₹148 per share before the public offering. This strong early interest is reflected in the robust grey market premium (GMP), currently at ₹39 per share, indicating a significant demand for the shares. This translates to a 26% premium over the upper end of the IPO price band.

Enviro Infra Engineers shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). The company’s focus on wastewater management positions it within a sector experiencing growth. However, potential investors should conduct thorough due diligence before participating in the IPO.

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