Mon Nov 25 12:53:04 UTC 2024: ## Enviro Infra Engineers IPO Oversubscribed by 12.52 Times on Day 2
**Mumbai, [Date]** – The initial public offering (IPO) of Enviro Infra Engineers, a company specializing in sewage treatment and sewerage systems, concluded its second day of bidding with a resounding success. The IPO was oversubscribed by 12.52 times, exceeding expectations.
Non-Institutional Investors (NIIs) drove the strong demand, subscribing over 34 times their allotted portion. Retail investors also showed significant interest, subscribing 8.73 times their allocation. Qualified Institutional Buyers (QIBs) subscribed 2.58 times. The employee portion was oversubscribed by 13.48 times.
The IPO, valued at ₹650 crore, offered shares priced between ₹140 and ₹148. The company successfully raised ₹195 crore from anchor investors prior to the public offering. Anchor investors included prominent names like Quant Mutual Fund and LIC Mutual Fund.
While the company’s order book is strong (₹1906.3 crore as of June 30, 2024), some analysts express caution due to the relatively high valuation compared to listed peers and subdued tendering activity in the first half of fiscal year 2025, attributing it to recent elections. Despite this, several brokerage firms recommend the IPO for long-term investment.
Enviro Infra Engineers’ strong performance reflects the growing demand for water and wastewater treatment solutions in India, driven by rapid urbanization and government initiatives like the Jal Jeevan Mission. The company’s expertise in designing, constructing, and maintaining these systems positions it for potential future growth. However, investors are advised to conduct thorough due diligence before investing.
First Piper 