Effwa Infra and Research IPO: The initial public offering of Effwa Infra & Research Limited, which opened for public subscription on Friday, is witnessing strong bidding on the second day. Till 10:43 am on the second day of bidding on Monday, the Rs 51.27-crore IPO received a strong 27.98 times subscription garnering bids for 11,69,13,600 shares as against 41,79,200 shares on offer.

The quota for non-institutional investors received 11.53 times subscription, while retail individual investors (RIIs) portion got subscribed 46 times.

The Effwa Infra and Research IPO will be closed on July 9, and its price band was fixed at Rs 78-Rs 82 per share.

The IPO allotment will take place on July 10, while its shares will likely be listed on the NSE SME on July 12.

Effwa Infra and Research IPO GMP Today

According to market observers, unlisted shares of Effwa Infra and Research Ltd are trading Rs 95 higher in the grey market as compared with its issue price. The Rs 95 grey market premium or GMP means the grey market is expecting a 115.85 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Effwa Infra and Research IPO More Details

The Effwa Infra and Research IPO is a combination of a fresh issue of 53.17 lakh shares aggregating to Rs 43.60 crores and an offer for sale of 9.36 lakh shares aggregating to Rs 7.68 crore.

Investors need to apply for a minimum of 1,600 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,31,200 [1,600 (lot size) x Rs 82 (upper price band)].

Shreni Shares Limited is the book-running lead manager of the Effwa Infra and Research IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Effwa Infra and Research IPO is Rikhav Securities.

Effwa Infra & Research Limited was founded in 2014 and provides engineering, consulting, procurement, construction and integrated project management services in the field of water pollution control, covering wastewater and industrial effluent treatment, solid waste treatment and disposal, aeration systems, hazardous waste management and water treatment plants.

Effwa Infra & Research Limited’s revenue rose 26.08 per cent and its profit after tax (PAT) increased 169 per cent during the financial year 2023-24.