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Effwa Infra & Research Ltd is launching its IPO on Friday, July 5, with the issue closing on Tuesday, July 9. The IPO comprises a fresh issue of 5,316,800 equity shares and an offer-for-sale of 936,000 shares.
The IPO has allocated 50% of the net offer for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors. Additionally, 5.19% of the offer, equivalent to 3,24,800 equity shares, is reserved for the market maker.
Effwa Infra operates in various sectors, including solid waste treatment, hazardous waste management, water treatment plants, and industrial and sewage effluent treatment.
They also provide engineering, consulting, procurement, construction, and integrated project management services for water pollution control.
The company operates in eight states and a Special Economic Zone, serving both domestic and international markets.
Key regions include Andhra Pradesh, Chhattisgarh, Gujarat, Maharashtra, Odisha, West Bengal, Madhya Pradesh, Rajasthan, and Adani Port in the Special Economic Zone.
Effwa Infra's listed peers include VA Tech Wabag Ltd and EMS Ltd. The company's revenue increased by 26.08%, and its profit after tax (PAT) grew by 169% for the fiscal year ending March 31, 2024.
The IPO, valued at ₹51.27 crore, includes a fresh issue worth ₹43.60 crore and an offer-for-sale amounting to ₹7.68 crore.
Proceeds from the IPO will be used for general corporate purposes, working capital needs, and capital expenditure.
Shreni Shares Limited is the book running lead manager, with Bigshare Services Pvt Ltd as the registrar, and Rikhav Securities as the market maker.
The current grey market premium (GMP) for Effwa Infra IPO is +115, suggesting a potential listing price of ₹197 per share, which is 140.24% higher than the upper IPO price band of ₹82.
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