Shares of Enviro Infra Engineers have risen over 16% in three straight sessions to hit a record high of Rs 324 today.
The stock entered the bourses on 29 November 2024. It was listed at Rs 218, exhibiting a premium of 47.3% to the issue price of Rs 148. The stock is currently up 111.35% over its IPO price.
The initial public offer (IPO) of Enviro Infra Engineers was subscribed to 89.90 times. The issue opened for bidding on 22 November 2024, and it closed on 26 November 2024. The price band of the IPO was fixed between Rs 140 and 148 per share.
Enviro Infra Engineers is in the business of designing, construction, operation, and maintenance of water and wastewater treatment plants (WWTPs) and water supply scheme projects (WSSPs) for government authorities and bodies. WWTPs include Sewage Treatment Plants (STPs), Sewerage Schemes (SS), and Common Effluent Treatment Plants (CETPs), while WSSPs include Water Treatment Plants (WTPs) along with pumping stations and the laying of pipelines for water supply.
The company participates in tenders floated by state governments and ULBs for developing WWTPs and WSSPs on an EPC or HAM basis. Till 30 June 2024, the company has successfully developed 28 WWTPs and WSSPs across India in the last seven (7) years, including 22 projects of 10 MLD capacity and above.
The firm reported a consolidated net profit of Rs 28.16 crore and sales of Rs 205.18 crore for the three months ended on 30 June 2024.