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Effwa Infra and Research GMP
In the unlisted market, the company’s shares are trading with a premium of Rs 120. If the trends sustain, the company’s shares are expected to list with 90% gains on July 11. The company has priced the IPO at Rs 82 at the upper end.The Rs 51.27 crore SME IPO of Effwa Infra and Research was subscribed over 200 times at close, driven by robust demand across categories. The IPO was a mix of fresh equity sale of 53 lakh shares and an OFS of 9.36 lakh shares.The net proceeds from the public offer will be used for funding working capital requirements of the company, capital expenditure and other general corporate purposes.Also Read: Accel and Flipkart-backed BlackBuck files DRHP with Sebi for IPO
Effwa Infra and Research is engaged in the business of engineering, consultancy, procurement, construction and integrated project management services in water pollution control, encompassing sewage and industrial effluent treatment, solid waste treatment and disposal, ventilation systems, hazardous waste management, and water treatment plants.
The global water and wastewater treatment market is experiencing substantial growth due to population increase, urbanization, and industrial expansion. Stringent regulations, technological advancements, and smart water management solutions are driving innovation.
For the year ended March 2024, the company clocked total revenues of Rs 145 crore and net profit of Rs 13.8 crore.
Shreni Shares is acting as the lead manager to the issue and Bigshare Services is the registrar.
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