HomeInfraEffwa Infra IPO GMP soars to 110%, issue subscribed over 80 times...

Effwa Infra IPO GMP soars to 110%, issue subscribed over 80 times on last day


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The initial public offer (IPO) of Effwa Infra and Research has been subscribed 80.4 times so far on the last day of the bidding process on Tuesday. The issue was booked 54.7 times on day two, led by strong demand from retail investors and non-institutional investors.

At 12:02 pm, the issue attracted bids for 42,75,96,800 shares, or 80.4 times against the issue size of 53.17 lakh shares. The IPO is a combination of a fresh equity issue of Rs 43.6 crore and an offer for sale of 9.36 lakh shares.

The Effwa Infra and Research IPO will be closed on July 9, and its price band was fixed at Rs 78-Rs 82 per share.

In the unlisted market, Effwa Infra’s shares are trading at a premium of Rs 90-100, translating to a 110% premium over the issue price.

About Effwa Infra and Research

Effwa Infra and Research is engaged in the business of engineering, consultancy, procurement, construction and integrated project management services in water pollution control, encompassing sewage and industrial effluent treatment, solid waste treatment and disposal, ventilation systems, hazardous waste management, and water treatment plants.

Industry Overview

The global water and wastewater treatment market is experiencing substantial growth due to population increase, urbanization, and industrial expansion. Stringent regulations, technological advancements, and smart water management solutions are driving innovation.Effwa Infra and Research IPO price band

The company is offering its shares at Rs 78-82 apiece, and investors can bid for 1600 shares in 1 lot.

Effwa Infra and Research GMP

The company’s shares were trading with a GMP of Rs 100 in the unlisted market.

Effwa Infra and Research financial performance

For the year ended March 2024, the company clocked total revenues of Rs 145 crore and net profit of Rs 13.8 crore.

Objects of the offer

The net proceeds from the public offer will be used for funding the working capital requirements of the company, capital expenditure and other general corporate purposes.

Issue structure

About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the remaining 15% for non-institutional investors.

Important dates

The IPO opened on July 5 and will close on July 9. The final allotment will likely be made on July 10. The company’s shares will likely be listed on July 12.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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