Effwa Infra and Research IPO comprised 6,252,800 equity shares priced between Rs 78 to Rs 82 per share, with a total aggregate value of Rs 51.27 crores. The minimum order quantity was 1600 shares.
Effwa Infra IPO raised Rs 51.27 crore, comprising a fresh issue and an offer-for-sale (OFS) component. (Photo Credit: X-@effwa & Getty Images)
New Delhi: Effwa Infra and Research IPO will be listed on Friday. The shares of Effwa Infra are expected to be listed on the NSE SME. The IPO opened on July 5, 2024, and closed on July 9, 2024. The public issue witnessed substantial demand, closing with a robust subscription.
Effwa Infra and Research shares are trading at a significant premium in the grey market, with a GMP today of Rs 120 per investor share, InvestorGain.com reported. This suggests strong investor confidence, indicating an estimated listing price of Rs 202 per share, a 146.95 per cent premium over the IPO price of Rs 82 per share.
Effwa Infra IPO Subscription Details
Effwa Infra and Research IPO received exceptional investor interest, with a subscription of 313.65 times. The retail category was oversubscribed by 323.81 times, while Qualified Institutional Buyers (QIBs) placed bids for 166.56 times, and Non-Institutional Investors (NIIs) bid 477.27 times.
Key IPO Details
Effwa Infra IPO raised Rs 51.27 crore, comprising a fresh issue and an offer-for-sale (OFS) component. Shreni Shares Limited acted as the book running lead manager for the IPO, with Bigshare Services Pvt Ltd serving as the registrar.
About Effwa Infra & Research Limited
Effwa Infra & Research Limited, established in 2014, specialises in comprehensive engineering, consulting, procurement, construction, and project management services. The company operates water pollution control, encompassing wastewater and industrial effluent treatment, solid waste management, aeration systems, hazardous waste handling, and water treatment facilities.
The company serves as a consultant and expert in project organization, management, procurement, financing, and implementation.
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