Envirotech Systems IPO: A Strong Start with 2.5x Oversubscription
Retail Investors Dominate on Day 1
The much-anticipated Envirotech Systems IPO witnessed a remarkable start on Day 1, with the SME public issue getting subscribed 2.5 times. Retail investors took the lead, booking shares 4.19 times their allotment, signaling a high level of interest in the offering.
Key Subscription Highlights
Retail investors were at the forefront, oversubscribing their portion 4.19 times on the very first day. Institutional investors also showed solid participation, contributing to the overall oversubscription of the issue.
SME Public Issue Sees Promising Demand
The IPO, designed specifically for the SME sector, saw a healthy demand, highlighting the growing confidence in emerging businesses like Envirotech Systems. The company’s focus on innovative environmental solutions appears to have resonated with investors.
Growth Potential of Envirotech Systems
Envirotech Systems operates in a niche market, providing sustainable solutions that align with the increasing global focus on environmental issues. The company’s strong financial position and strategic growth plans make it a promising candidate for investors looking to support eco-friendly enterprises.
Envirotech Systems IPO Details:
| Particulars | Details |
| IPO Date | September 13, 2024 to September 17, 2024 |
| Face Value | Rs 10 per share |
| Price Band | Rs 53 to Rs 56 per share |
| Envirotech Systems Lot Size | 2000 Shares |
| Total Issue Size | 54,00,000 shares (aggregating up to ₹30.24 Cr) |
| Fresh Issue | 54,00,000 shares (aggregating up to ₹30.24 Cr) |
| Issue Type | Book Built Issue IPO |
| Envirotech Systems Listing At | NSE SME |
| Shareholding pre-issue | 1,33,90,000 |
| Shareholding post-issue | 1,87,90,000 |
| Market Maker portion | 7,02,000 shares (Share India Securities) |
Envirotech Systems IPO Schedules:
| Particulars | Details |
| IPO Open Date | Friday, September 13, 2024 |
| IPO Close Date | Tuesday, September 17, 2024 |
| Basis of Allotment | Wednesday, September 18, 2024 |
| Initiation of Refunds | Thursday, September 19, 2024 |
| The credit of Shares to Demat | Thursday, September 19, 2024 |
| Listing Date | Friday, September 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 17, 2024 |
Investor category and shares offered
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
Application Type, Envirotech Systems Shares applied, Lot Size and, their value
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | Rs 1,12,000 |
| Retail (Max) | 1 | 2000 | Rs 1,12,000 |
| HNI (Min) | 2 | 4,000 | Rs 2,24,000 |
Anchor Investors’ Details
| Particulars | Details |
| Bid Date | September 12, 2024 |
| Shares Offered | 14,06,000 |
| Anchor Portion Size (In Cr.) | 7.87 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 18, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 17, 2024 |
Final Thoughts
The successful Day 1 subscription of the Envirotech Systems IPO showcases the rising interest in companies that prioritize sustainability. With retail investors driving the demand, it is clear that this IPO has captured the attention of a broad spectrum of the market. Investors will be eagerly watching how the rest of the subscription period unfolds.