The company is offering its shares at Rs 181-190 apiece, and investors can bid for 600 shares in 1 lot.
The IPO is completely a fresh equity issue of 65.91 lakh shares and through the issue, the company plans to raise around Rs 125 crore. About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the rest 15% for non-institutional investors.
The net proceeds from the public offer will be used for repayment of debt, funding capital expenditure, working capital requirements and other general corporate purposes.
The group has diversified its business as service provider into multiple verticals catering to (i) Solar System and Allied Services, (ii) Electrical contracting services (iii) Water Supply Scheme Projects and as a (iv) manufacturer of solar photo-voltaic modules. The company’s in-house engineering and design capabilities help us offer diversified products and solutions to our customers in each of the product categories.
Hem Securities is acting as the lead manager to the issue and Kfin Technologies is the registrar.
Meanwhile, the IPO of Effwa Infra and Research was booked nearly 38 times on the second day of the bidding process. The issue closes tomorrow.
The issue is priced in the range of 78-82 apiece, and investors can bid for 1,600 shares in 1 lot.
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.
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.
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