New Delhi, Oct 28 (PTI) The initial public offering of wastewater treatment solutions provider SFC Environmental Technologies received 27 per cent subscription on the second day of bidding on Wednesday.
The company’s Rs 668-crore IPO got bids for 38,55,195 shares against 1,41,59,744 shares on offer, according to data available with the NSE.
The portion for non-institutional investors garnered 37 per cent subscription. The category for retail investors was subscribed 34 per cent, while that of Qualified Institutional Buyers (QIBs) was subscribed 8 per cent.
SFC Environmental Technologies Ltd has raised Rs 200 crore from anchor investors.
The company’s IPO will close on October 29.
It has fixed a price band of Rs 313-330 per share for the IPO, valuing
it at around Rs 3,233 crore at the upper end.
The IPO has a fresh issue of equity shares worth Rs 150 crore and an offer for sale (OFS) of up to 1.57 crore equity shares by promoters and existing shareholders.
Proceeds from the fresh issue will be used for debt repayment and working capital requirements.
The company’s shares are proposed to be listed on the BSE and NSE on November 3.
Incorporated in 2005, the Mumbai-based company provides wastewater treatment solutions using proprietary technologies, including C-Tech, an advanced technology for treating sewage and effluents.
Its customers include SMC Infrastructures, Rajkamal Builders Infrastructure, Ramky Infrastructure, EMS and Enviro Infra Engineers.
IIFL Capital Services, JM Financial and Nuvama Wealth Management are the book-running lead managers to the issue, while MUFG Intime India is the registrar. PTI SUM SUM BAL
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