Tue Nov 26 10:08:29 UTC 2024: ## Enviro Infra Engineers IPO Oversubscribed by 12.51 Times

**Mumbai, November 25, 2024** – Enviro Infra Engineers’ initial public offering (IPO) is closing today after attracting significantly strong investor interest. The three-day offering, which launched on Friday, November 22nd, has been oversubscribed by a massive 12.51 times, according to data from the National Stock Exchange (NSE).

The IPO, valued at ₹650.43 crore, received bids for 38,52,17,131 shares against the 3,07,93,600 shares on offer. Non-Institutional Investors (NIIs) showed the most enthusiasm, oversubscribing their allotted portion by a remarkable 34.59 times. Retail investors and Qualified Institutional Buyers (QIBs) also participated robustly, oversubscribing by 8.71 times and 2.58 times respectively by the second day.

The strong demand is reflected in the grey market, where unlisted shares are trading at a significant premium. Sources cited by Business Standard report a grey market premium (GMP) of ₹48 over the upper price band of ₹148, representing a 32.43% increase.

The IPO, priced between ₹140 and ₹148 per share, has received positive reviews from several brokerages including Deven Choksey Research, Anand Rathi Research, Bajaj Broking, and Swastika Investmart.

Allotment is expected to be finalized on Wednesday, November 27th, with shares credited to successful applicants’ demat accounts by Thursday. Enviro Infra Engineers’ shares are scheduled to debut on the NSE and BSE on Friday, November 29th.

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