Enviro Infra Engineers Ltd., which is set to launch its initial public offering on Friday, is expecting a healthy order book after listing, according to its management.
In an interaction with NDTV Profit, Chairman Sanjay Jain and Managing Director Manish Jain, also shared details about the current order pipeline.
As of July 1, 2024, the company's order book stood at Rs 1,906 crore, Jain said, adding, “If we see, the top line of the company for FY24 was Rs 738 crore. So, the order book is almost two times larger. We are sitting on a very healthy order book.”
On the low tendering in the first quarter of the ongoing financial year, Jain said that in the first half, general elections prevented rolling out new orders.
At the same time, he said, “There are a number of projects, which are just in the anvil and the tenders are being invited for these projects and definitely we will be bidding. Based on the success ratio of the company in the past, we are quite hopeful that our order book will continue to remain very healthy.”
According to the MD, at present, the ongoing projects total to 21. Apart from this, the company is also looking to capitalise on a number of government schemes like Namami Gange, Amrut Scheme, and the National River Conservation Plan.
Enviro Infra Engineers Ltd. is a leading player in the water and wastewater treatment segment. Its services include designing, constructing, erection, testing, and commissioning of sewage treatment plants, common effluent treatment plants, and water treatment plants.
“There are various government initiatives under which the company finds its strength and is capitalising on the various government initiatives,” he said.
Speaking about the company's plans after the issue is listed and the usage of its proceeds, Chairman Sanjay Jain said that most of the funds will go towards meeting working capital requirements.
Giving a breakup of the use of funds garnered via the fresh issue portion, he said, “Out of Rs 570 crore (of IPO proceeds), Rs 180 crore will be used as working capital. Another Rs 120 crore will be used for repaying debts. Another Rs 30 crore will go into our subsidiary EIEL Mathura Infra Engineers Pvt. for executing the project in Mathura. The remaining 35% will be used for general corporate purposes.”
Enviro Infra Engineers IPO Details
The mainboard issue totalling Rs 650.43 crore is set to open for subscription on Nov. 22 and close on Nov. 26.
The book-building offer includes a fresh issue of 3.87 crore shares adding up to Rs 572.46 crore, and an offer-for-sale component of 53 lakh shares aggregating to Rs 77.97 crore.
The issue has been priced at Rs 140–148 per share. Shares of Enviro Infra Engineers are scheduled to be listed on the NSE and BSE on Nov. 29.
Comprehensive Budget 2026 coverage, LIVE TV analysis, Stock Market and Industry reactions, Income Tax changes and Latest News on NDTV Profit.