10-Dec-2024
2 mins read
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SFC Environmental Technologies
Limited has filed its DRHP with SEBI for its upcoming IPO. This upcoming IPO is
offering a fresh issue of equity shares worth up to Rs 185 crore and an offer
for sale of up to 1.08 crore equity shares.
The total aggregate size of a
public issue in rupees and the total number of equity shares that will be
issued by the company have not yet been disclosed. The face value mentioned by
the company in the DRHP is Rs 2 per share.
This IPO will follow the
book-building process, with not more than 50% of the offer reserved for
Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional
Investors (NIIs), and not less than 35% for retail investors is reserved.
SFC Environmental Technologies IPO open date and close date have not yet been declared. The price band & lot size will be revealed soon by the company. The Shares to be offered through the Red Herring Prospectus are proposed by the company to be listed on the NSE and BSE.
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About SFC Environmental Technologies Limited
SFC Environmental Technologies
Limited, established in 2005, is one of the players in the environmental
technology sector, specializing in municipal sewage and solid waste
treatment solutions.
The company's headquarter is
situated in Navi Mumbai, Maharashtra; the company is recognized for its
innovative Cyclic Activated Sludge Technology, which enhances wastewater
treatment efficiency. SFC Environmental Technologies has over 17 years of
experience, SFC has built a robust order book and maintains strong liquidity,
reflecting its operational stability.
The company is committed to
sustainable practices, collaborating with partners to advance technologies that
promote environmental conservation. As part of its growth strategy, SFC
continues to expand its offerings and improve service delivery in the rapidly
evolving waste management industry.
SFC Environmental Technologies IPO Objectives
SFC Environmental Technologies IPO
Objectives are as follows: the company proposes to utilize the net proceeds
from the fresh issue for various purposes, including Rs 54.95 crores for the
prepayment of all or a portion of certain outstanding borrowings availed by the
Company and their wholly owned Subsidiary, namely Vasudha Waste Treatment
Private Limited. Rs 90.69 crores for working capital requirements, while the
rest is for general corporate purposes.
SFC Environmental Technologies Limited Financials Performance
SFC Environmental Technologies
financials show good performance for the FY ended 2024, compared to FY 2023:
- Assets increased from Rs 640.01 crores in
March 2023 to Rs 905.81 crores in March 2024, a 41.53% increase.
- Revenue increased from Rs 519.69 crores to
Rs 658.39 crores, a 26.69% increase.
- Profit After Tax (PAT) increased
from Rs 94.81 crores to Rs 144.17 crores, a 52.07% increase.
- Total Borrowing increased
from Rs 46.41 crores to Rs 130.67 crores, an 181.56% increase.
Lead manager(s) and Registrar of SFC Environmental Technologies IPO
The IPO is managed by JM Financial
Limited, Nuvama Wealth Management Limited and IIFL Capital Services Limited,
which is the book-running lead manager for this public issue. The company has
appointed Link Intime India Private Limited as the registrar for this public
issue.
Promoters of SFC Environmental Technologies Limited
SFC Environmental Technologies promoters are Sandeep Sudhakar Asolkar, Priya Sandeep Asolkar And Saketchandrasingh Pratapsingh Dhandoriya. They collectively hold 82.58% of the company's shares. However, post-IPO changes in their shareholding have not yet been disclosed in the Prospectus filed by the company with SEBI. To read the full DRHP, click here.