Wastewater treatment solution provider SFC Environmental Technologies announced on Wednesday that its initial public offering will open for subscription on October 27. The public issue is valued at ₹668 crore and has a price band fixed at ₹313 to ₹330 per share.
The top end of the price band values the company at approximately ₹3,233 crore. The public issue is scheduled to close on October 29, with anchor investor bidding taking place on October 26.
Equity shares of the company are proposed to be listed on the BSE and the NSE on November 3. Incorporated in 2005, the Mumbai-based company provides wastewater treatment solutions using proprietary technologies such as C-Tech.
Key Points Of The SFC Environmental Technologies IPO
- IPO size: ₹668 crore
- Price band: ₹313 to ₹330 per share
- Subscription dates: October 27 to October 29, with anchor bidding on October 26
- Fresh issue: ₹150 crore alongside an offer-for-sale of up to 1.57 crore shares
- Listing date: November 3 on BSE and NSE
Structure and Proceeds of the Public Issue
The initial public offering comprises a fresh issue of equity shares worth ₹150 crore. It also includes an offer-for-sale of up to 1.57 crore shares by promoters and existing shareholders.
Proceeds generated from the fresh issue will be utilized for debt repayment and working capital requirements. The offer reserves 50 per cent of the size for qualified institutional buyers, 15 per cent for non-institutional investors, and 35 per cent for retail individual investors.
Clients and Book-Running Lead Managers
The company serves several key infrastructure clients including SMC Infrastructures, Rajkamal Builders Infrastructure, Ramky Infrastructure, EMS, and Enviro Infra Engineers.
IIFL Capital Services, JM Financial, and Nuvama Wealth Management are serving as the book-running lead managers to the issue. MUFG Intime India is acting as the registrar for the public issue.
Frequently Asked Questions
When does the SFC Environmental Technologies IPO open?
The SFC Environmental Technologies IPO opens for subscription on October 27 and closes on October 29, with anchor investor bidding scheduled for October 26.
What is the price band for the SFC Environmental Technologies IPO?
The price band for the SFC Environmental Technologies IPO has been fixed at ₹313 to ₹330 per share, valuing the company at around ₹3,233 crore at the top end.
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