The allotment of shares for Enviro Infra Engineers Limited will be finalized on Wednesday, following the completion of the subscription for its initial public offering (IPO) on November 26, 2024. The response to the IPO was exceptionally strong, with the offering oversubscribed by an impressive 89.90 times by the end of its 3-day bidding period. This enthusiastic demand demonstrates the high level of interest from investors, particularly within the retail investor category, which was subscribed 24.48 times. The Qualified Institutional Buyers (QIB) segment showed even greater enthusiasm, with a subscription rate of 157.05 times, while the Non-Institutional Investors (NII) category was oversubscribed by 153.80 times. These figures reflect a significant demand for shares of Enviro Infra Engineers, indicating strong market confidence in the company.
Investors who participated in the IPO can check the status of their share allotment through two primary online platforms: the Bombay Stock Exchange (BSE) and Bigshare Services Pvt Ltd, the registrar for the IPO. The process for checking allotment on the BSE website involves visiting the website, selecting the "Equity" section, choosing Enviro Infra Engineers Limited from the dropdown list, and entering the application number and PAN card ID. After completing a captcha verification, investors can submit their details to view the allotment status.
Alternatively, investors can check their allotment status through Bigshare Services Pvt Ltd by visiting their website and selecting the IPO from the dropdown menu (which will be available once the allotment is finalized). Investors can choose one of three modes for checking their status: using the application number, Beneficiary ID, or PAN ID. After entering the required details based on their selected mode and completing the captcha verification, investors can click on "Search" to view the status of their allotment.
As of November 27, 2024, the grey market premium (GMP) for the Enviro Infra Engineers IPO was reported to be Rs 47. Based on the IPO price band of Rs 148, this implies an estimated listing price of Rs 195, factoring in the GMP. If the estimated listing price holds true, it could result in a potential gain of approximately 31.76% per share for investors who bought at the upper price band. This projected gain highlights the attractive potential for those who participated in the IPO and purchased shares at the cap price.
The shares of Enviro Infra Engineers are expected to debut on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Friday, November 29, 2024. Investors eagerly await the listing, which will determine the actual market performance of the shares post-allotment. The company’s strong subscription numbers and the positive sentiment surrounding the IPO suggest that the listing could be met with significant investor interest, potentially leading to a strong debut on both exchanges.
