The initial public offering (IPO) of Enviro Infra Engineers is now open for subscription today, on 22 November, 2024. The stock has generated significant buzz in the grey market, with its Grey Market Premium (GMP) standing at ₹38, translating to an impressive 26% premium against the upper price band.
For investors looking to buy shares online, the IPO offers an attractive opportunity driven by robust fundamentals and high demand in the unofficial market.
IPO structure and key details
The Enviro Infra Engineers IPO comprises a fresh issue of 3.87 crore shares and an offer for sale (OFS) of 52.68 lakh shares. The IPO is available in a price band of ₹140-148, with a minimum lot size of 101 shares, requiring a minimum investment of ₹14,948. Retail investors can bid for up to 13 lots, totalling 1,313 shares under the ₹2,00,000 limit. This setup allows both seasoned and new investors to buy shares online conveniently.
Fund utilisation plan
The company aims to utilise the proceeds from the fresh issue to:
The proceeds from the OFS will go to the selling shareholders and will not be utilised for company activities.
IPO schedule and listing details
The subscription window for the IPO closes on 26 November, 2024. The basis of allotment will be finalised on 27 November, and shares will be credited to investors’ demat accounts by 28 November. The listing is scheduled for 29 November on the NSE and BSE.
Why this IPO matters for online investors
For those planning to buy shares online, Enviro Infra Engineers IPO stands out as an opportunity backed by:
The public offering aligns well with investors seeking sustainable and profitable growth in the infrastructure sector.
Invest safely
Enviro Infra Engineers IPO is an excellent opportunity for investors exploring the infrastructure sector. With a significant GMP and a strong business model, this IPO provides compelling reasons to buy shares online. Ensure timely participation to maximise investment potential.
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