Enviro Infra Engineers' IPO Soars with Solid Market Debut

Enviro Infra Engineers Ltd, a sewage treatment solutions provider, saw its shares leap by nearly 40% above the issue price on their market debut. The company's IPO, primarily fueled by fresh equity and an offer for sale, raised funds for working capital and a sewage treatment plant project.

Shares of Enviro Infra Engineers Ltd, a sewage treatment solutions provider, demonstrated robust market performance by closing nearly 40% higher than the issue price of Rs 148 on Friday.

The stock opened at Rs 218 on the BSE, experiencing an impressive surge of 47.29%. During the day, it climbed even higher to Rs 233.50, closing at Rs 207 with a 39.86% gain. Similarly, at the NSE, the stock opened at Rs 220, peaking with a gain of 48.64% before closing 39.97% higher at Rs 207.16.

The company's market valuation reached Rs 3,633.47 crore. The dynamic trading saw 45.06 lakh shares on the BSE and 554.10 lakh shares on the NSE trading hands. Enviro Infra Engineers' Rs 650-crore IPO, which closed with an 89.90 times subscription, featured a mix of fresh equity totalling 3.87 crore shares and an offer for sale of 52.68 lakh shares by promoters. The proceeds will aid in covering working capital, debt repayment, and support a new sewage treatment plant project in Mathura, Uttar Pradesh.

(With inputs from agencies.)