Outlook Business Desk
The IPO is scheduled to open on November 22 and close by November 26. The allotments shall be announced on November 27. The prospective listing date on BSE and NSE, is set at November 29.
The price band has been set at Rs 140 -Rs 148 per share with the lot size being 101 shares. The company is aiming to use the funds for working capital requirements, fund its subsidiary EIEL Mathura to build a 60 MLD sewage treatment plant and payback loans.
The company plans to raise Rs 650 crore through a public offering, including a fresh issue of Rs 572.46 crore and an OFS (offer for sale) worth Rs 77.97 crore.
Sustainability initiatives coupled with government efforts like Swachh Bharat Abhiyan and Namami Gange, are propelling the growth of the water and wastewater treatment market. This might be a good signal for the company's growth prospects.
The company's revenue figure stood at Rs 738 crore in FY24. As for profits, the company has seen a robust growth rate in the same. For FY24, the profit after tax figure stood at Rs 110.54 crore.