Mon Nov 25 19:58:39 UTC 2024: ## Enviro Infra Engineers IPO Oversubscribed 8 Times on Day 2

**Mumbai, November 27, 2024** – The initial public offering (IPO) of Enviro Infra Engineers Ltd., a water and wastewater treatment company, has witnessed overwhelming investor interest, closing its second day of subscription with an impressive 8.04 times oversubscription. According to the National Stock Exchange (NSE), investors applied for over 24.77 crore shares, significantly exceeding the 3.07 crore shares on offer.

The strong demand was observed across all investor categories. Non-Institutional Investors (NIIs) showed the highest enthusiasm, with a 20.99 times oversubscription. Qualified Institutional Buyers (QIBs) also participated robustly, subscribing 2.47 times their allocated portion. The retail investor category saw a 6.36 times oversubscription. Even the employee quota received a healthy 3.16 percent subscription.

The IPO, valued at Rs 650 crore, comprises 3.87 crore new equity shares and 52.68 lakh shares offered for sale by promoters. The price band is set at Rs 140-148 per share.

The grey market premium (GMP) for the IPO has also seen a significant surge, rising from Rs 32 on Friday to Rs 53 on Monday.

The IPO closes on Tuesday, November 26th. Share allocation is expected on Wednesday, November 27th, with refunds to unsuccessful bidders following immediately. Shares are slated to be credited to winning bidders’ Demat accounts on Thursday, November 28th, and the company is expected to list on the BSE and NSE on Friday, November 29th.

Enviro Infra Engineers reported strong financial results for the June quarter, with a profit-after-tax of Rs 30.78 crore and revenue of Rs 207.46 crore. The company’s revenue and net profit also saw substantial growth year-on-year.

**Disclaimer:** *This news article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks. Consult a financial advisor before making investment decisions.*

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