05-Jul-2024
2 mins read
Enviro Infra Engineers Limited filed a DRHP and will be coming up with its public issue in the upcoming time; the public issue will be offering a 100% book-built offer. This upcoming IPO is offering a fresh issue of 4,42,32,000 of equity shares and an OFS of up to 52,68,000 equity shares. The face value is reported as Rs. 10 for each share. This new IPO issue is being made through the book-building process with a reservation of not more than 50% of the new offer reserved for Qualified Institutional Investors, not less than 15% reserved for NII and the remaining 35% or more reserved for Retail Individuals. The exact dates for the IPO's subscription opening and closing, as well as the price band, will be announced soon. Hem Securities Limited is serving as the book-running lead manager for this IPO, and the company has appointed Bigshare Services Private Limited as the registrar for the issue.
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About Enviro Infra Engineers Limited
Enviro Infra Engineers Limited specializes in designing, constructing, and maintaining Water and Wastewater Treatment Plants and Water Supply Scheme Projects for government authorities. They handle projects at STPs, SS, and CETPs—most of them meeting the ZLD standards. Their services include design, engineering, construction, and long-term operations and maintenance. They also jointly work on ventures that help them increase the project execution expertise and are providing solar power and Compressed Bio Gas plants across their projects to make it more sustainable.
Enviro Infra Engineers Limited IPO Objectives
The company mentioned in the DRHP that they plan to utilize the Net Proceeds for various strategic purposes. These include meeting our working capital requirements, funding our subsidiary EIEL Mathura Infra Engineers Private Limited to construct a 60 MLD Sewage Treatment Plant as part of the ‘Mathura Sewerage Scheme’ in Uttar Pradesh, covering operation and maintenance for 15 years under the Hybrid Annuity Based PPP Mode. Additionally, we aim to repay or prepay certain outstanding borrowings and allocate resources for future projects and general corporate purposes.
Financials of the Company
For the FY year ended March 2023, compared to March 2022, the company's assets increased by 134.43% to Rs 347.58 crore. However, revenue increased by 51.26% to Rs 223.53 crore, and profit after tax showed an increase of 60.18% to Rs 55.34 crore for the same period. Total borrowing increased to Rs 64.54 crore from Rs 18.11 crore as compared to FY23 from FY22. These numbers show how the company's finances have been and where exactly there is a need to make strategic changes.
Lead manager(s), Registrar of IPO & Promoter(s) of the Company
The IPO is managed by Hem Securities Limited, which is the book-running lead manager of this public issue. The company has appointed Bigshare Services Private Limited as the registrar for the issue, while the company has Sanjay Jain, Manish Jain, Ritu Jain, and Shachi Jain as their promoter(s).
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