Enviro Infra IPO Price Band Set at ₹140-₹148 Per Share

Enviro Infra Engineers Limited (“Enviro Engineers” or “The Company”), shall open its Bid / Offer in relation to its initial public offer of Equity Shares on Friday, November 22, 2024.

The total offer size of Equity Shares (face value  ₹ 10 each) comprises of fresh issue of up to  3,86,80,000 Equity Shares (The “Fresh Issue”) and offer for sale of up to 52,68,000 Equity Shares. (The “Offer for Sale”).

This offer includes a reservation of up to Up to 1,00,000 Equity Shares for subscription by eligible employees. (The “Employee Reservation Portion”)

The Anchor Investor Bidding Date shall be Thursday, November 21, 2024. The Bid/Offer will open on Friday, November 22, 2024 and close on Tuesday, November 26, 2024. (“Bid Details”)

The Price Band of the Offer has been fixed at ₹140 to  ₹ 148 per Equity Share. Bids can be made for a minimum of 101 Equity Shares and in multiples of 101 Equity Shares thereafter. (The “Price Band”).

The Company proposes to utilise net proceeds from fresh issue of Equity Shares towards (i)To meet the Working Capital Requirements; (ii)Infusion of funds in our Subsidiary, EIEL Mathura Infra Engineers Private Limited (“EIEL Mathura”) to build 60 MLD STP under project titled ‘Mathura Sewerage Scheme” at Mathura in Uttar Pradesh through Hybrid Annuity Based PPP Mode. (iii)Repayment/prepayment in full or in part, of certain of our outstanding borrowings;

(iv)Funding inorganic growth through unidentified acquisitions and general corporate purposes (the “Objects of Issue”).

The offer for sale of up to 52,68,000 Equity Shares (“Offered Shares”) comprising up to 21,34,000 Equity Shares by Sanjay Jain, up to 21,34,000 Equity Shares by Manish Jain, up to 5,00,000 Equity Shares by Ritu Jain and up to 5,00,000 Equity Shares by Shachi Jain (collectively, the “Promoter Selling Shareholders”), and such offer for sale of Equity Shares by the Selling Shareholders, “the Offer for Sale”).

This Equity Shares are being offered through the Red Herring Prospectus of the Company dated November 16, 2024 filed with the Registrar of Companies, Delhi.  (The “RHP”)

The Equity Shares to be offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” together with BSE, the “Stock Exchanges”). For the purposes of the Offer, NSE is the Designated Stock Exchange. (The “Listing Details”)

The Offer is being made through the Book Building process in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (the “QIBs” and such portion, “QIB Portion”), provided that our Company in consultation with the BRLM, may allocate up to 60% of the QIB Category to Anchor Investors, on a discretionary basis (the “Anchor Investor Portion”). One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (“Net QIB Portion”).

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.

Further, (a) not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders (out of which one third shall be reserved for Bidders with Bids exceeding ₹ 2,00,000 and up to ₹ 10,00,000 and two-thirds shall be reserved for Bidders with Bids exceeding ₹ 10,00,000)

And (b) not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids being received at or above the Offer Price. All potential Bidders, other than Anchor Investors, are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Account (as defined hereinafter) and UPI ID in case of UPI Bidders (defined hereinafter), which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or the Sponsor Bank(s), as the case may be, to the extent of their respective Bid Amounts. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. For further details, please see “Offer Procedure” on page 466.

Hem Securities Limited is the sole Book Running Lead Managers to the offer (“BRLM”).

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.