Enviro Infra Engineers Sets Stage for ₹650 Crore IPO with Anchor Investor Support

Enviro Infra Engineers is set to launch an initial public offering (IPO) valued at Rs 650 crore. The company collected Rs 195 crore from anchor investors ahead of the IPO which opens on November 22. Funds will support working capital, debt repayment, and a new sewage treatment plant.

Enviro Infra Engineers, a company specializing in turnkey projects for sewage and sewerage systems, has successfully garnered around Rs 195 crore from anchor investors. This comes ahead of its highly anticipated initial public offering (IPO), which is scheduled to open for public subscription on November 22.

Significant players like Quant Mutual Fund, Motilal Oswal Mutual Fund, and LIC Mutual Fund are among the notable anchor investors, according to a circular on BSE's website. Enviro Infra Engineers allocated over 1.31 crore equity shares to 22 funds at Rs 148 per share, peaking the price band and equating to Rs 194.68 crore in transactions.

The forthcoming Rs 650-crore IPO includes a mix of new equity shares and an offer for sale by company promoters. The proceeds, particularly Rs 181 crore, will aid working capital, Rs 100 crore will address debt repayment, and Rs 30 crore will fund a 60 million litre per day Sewage Treatment Plant in Mathura, Uttar Pradesh.

(With inputs from agencies.)