Enviro Infra Engineers
Book Building issueMainboardNSE₹650 Cr issue
+47.30%
Listing gain over issue price
Issue size
₹650 Cr
1 lot at cut-off
₹14,948
Lot size
101shares
Open
22 Nov 2024
Close
26 Nov 2024
Allotment
27 Nov 2024
Listing
29 Nov 2024
Listing performance
Issue price
₹148
Listed at
₹218
Listing-day close
₹207.07
Latest price
₹161.39
Close on 23 Oct 2026
Listing gain
+47.30%
Return since issue
+9.05%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 22 Nov 2024 – 26 Nov 2024
- Listing date
- 29 Nov 2024
- Face value
- ₹10 per share
- Issue price
- ₹148 per share
- Lot size
- 101 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹650 Cr
- Market cap at offer price
- ₹2,598 Cr
- Promoter holding
- 93.66% → 70.02% pre-issue → post-issue
- ISIN
- INE0LLY01014
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- Unit No 201, Second Floor, Plot No.B, CSC/OCF-01, RG Metro Arcade, Sector-11, Rohini, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 1,31,54,400 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 101 shares per lot, in multiples, at ₹148
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 101 | ₹14,948 |
| Retail (max) | 13 | 1,313 | ₹1,94,324 |
| S-HNI (min) | 14 | 1,414 | ₹2,09,272 |
| S-HNI (max) | 66 | 6,666 | ₹9,86,568 |
| B-HNI (min) | 67 | 6,767 | ₹10,01,516 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
1,31,54,400
Anchor portion
₹195 Cr
at ₹148 per share
Valuation and performance
Valuation at offer price
₹148 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 8.08 | 7.01 |
| P/E (×) | 18.32 | 21.11 |
| Price to book (×) | 6.89 | — |
| Market cap | — | ₹2,598 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 37.83%
- ROCE
- 32.34%
- Debt / equity
- 0.80
- PAT margin
- 15.17%
- NAV per share
- ₹21.48
- Price to book
- 6.89
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Enviro Infra Engineers
Enviro Infra Engineers Limited (EIEL), incorporated in 2009, is engaged in the business of designing, construction, operation and maintenance of Water and Wastewater Treatment Plants (WWTPs) including Sewage Treatment Plants (STPs), Sewerage Schemes (SS), Common Effluent Treatment Plants (CETPs), and Water Supply Scheme Projects (WSSPs) including Water Treatment Plants (WTPs) with pumping stations and laying of pipelines for government authorities and bodies. The company was originally incorporated as a private limited company and converted to a public limited company in 2022. The company took over the business of partnership firm M/s Enviro Engineers in April 2010. The treatment processes installed are Zero Liquid Discharge (ZLD) compliant, allowing treated water to be used for horticulture, washing, refrigeration and other industrial processes. The company generates revenue primarily from EPC (Engineering, Procurement, and Construction) contracts, HAM (Hybrid Annuity Model) projects, and O&M (Operation and Maintenance) services.
Company Analysis
from RHPEnviro Infra Engineers Limited designs, constructs, operates and maintains water and wastewater treatment plants and water supply schemes for government authorities across India.
Enviro Infra Engineers Limited (EIEL), incorporated in 2009, is engaged in the business of designing, construction, operation and maintenance of Water and Wastewater Treatment Plants (WWTPs) including Sewage Treatment Plants (STPs), Sewerage Schemes (SS), Common Effluent Treatment Plants (CETPs), and Water Supply Scheme Projects (WSSPs) including Water Treatment Plants (WTPs) with pumping stations and laying of pipelines for government authorities and bodies. The company was originally incorporated as a private limited company and converted to a public limited company in 2022. The company took over the business of partnership firm M/s Enviro Engineers in April 2010. The treatment processes installed are Zero Liquid Discharge (ZLD) compliant, allowing treated water to be used for horticulture, washing, refrigeration and other industrial processes. The company generates revenue primarily from EPC (Engineering, Procurement, and Construction) contracts, HAM (Hybrid Annuity Model) projects, and O&M (Operation and Maintenance) services.
water and wastewater treatmentsewerage infrastructurewater supply schemesenvironmental engineeringpublic-private partnerships
Objects of the Issue
- To meet the Working Capital Requirements ₹18,100.00 lakhs p.29
- Infusion of funds in our Subsidiary, EIEL Mathura Infra Engineers Private Limited to build 60 MLD STP under project titled 'Mathura Sewerage Scheme' at Mathura in Uttar Pradesh through Hybrid Annuity Based PPP Mode ₹3,000.00 lakhs p.29
- Repayment/prepayment in full or in part, of certain of our outstanding borrowing ₹12,000.00 lakhs p.29
- Funding inorganic growth through unidentified acquisitions and general corporate purposes p.29
- Part funding of capital expenditure for the Mathura project (60 MLD STP) p.75
- Funding working capital requirements p.75
- Repayment of debt p.75
- Funding inorganic growth through unidentified acquisition and general corporate purposes p.59
- To meet the Working Capital Requirements ₹18,100.00 lakhs p.123
- Infusion of funds in our Subsidiary, EIEL Mathura Infra Engineers Private Limited ("EIEL Mathura") to build 60 MLD STP under project titled 'Mathura Sewerage Scheme" at Mathura in Uttar Pradesh through Hybrid Annuity Based PPP Mode ₹3,000.00 lakhs p.123
- Repayment/prepayment in full or in part, of certain of our outstanding borrowings ₹12,000.00 lakhs p.123
- Funding inorganic growth through unidentified acquisitions and general corporate purposes p.123
- Funding of HAM project: Infusion of funds in Subsidiary EIEL Mathura Infra Engineers Private Limited for execution of HAM-based STP project at Mathura, Uttar Pradesh ₹8,762.00 lakhs (term loan facilities already sanctioned from banker; balance to be funded from offer proceeds) p.229
Issue Structure
- Total Issue
- Up to ₹[●] lakhs
- Fresh Issue
- Up to 3,86,80,000 Equity Shares aggregating up to ₹[●] lakhs
- Offer for Sale
- Up to 52,68,000 Equity Shares aggregating up to ₹[●] lakhs
- Price Band
- Floor Price: ₹[●] per Equity Share; Cap Price: ₹[●] per Equity Share
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹10 per Equity Share
Business Model
The company derives revenues from contracts awarded by government authorities/bodies for water and wastewater treatment infrastructure projects. Revenue comes from three primary sources: EPC (Engineering, Procurement, and Construction) contracts which constituted 86.21% of FY 2024 revenue (₹62,841.44 lakhs), HAM (Hybrid Annuity Model) projects which constituted 9.77% of FY 2024 revenue (₹7,124.16 lakhs), and O&M (Operation and Maintenance) services which constituted 4.01% of FY 2024 revenue (₹2,925.90 lakhs). The company bids for projects funded by Central Government schemes (AMRUT, NMCG, Jal Jeevan Mission) and State/Local bodies.
Business Segments
Design, construction, operation and maintenance of Sewage Treatment Plants (STPs), Sewerage Schemes (SS), and Common Effluent Treatment Plants (CETPs) with Zero Liquid Discharge (ZLD) compliant treatment processes
Design, construction, operation and maintenance of Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for water supply
Lumpsum turnkey projects implemented for a fixed fee, irrespective of changes in bills of quantity, though some contracts carry price adjustment formulas for escalation of raw materials, equipment, labour and other inputs.
Item Rate projects implemented on price per unit of each BOQ item, so whenever there are changes in BOQ, the contractor is paid based on the unit rate quoted.
Projects where the company invests capital during construction phase, operates the project during concession period, and transfers the project to the concessioning authority. 40% of capital cost is paid by government during construction, 60% is recovered as annuities over operation period (typically 15 years).
Operation and maintenance of installed WWTPs and WSSPs for government entities with terms ranging from 1 to 15 years.
Design, engineering, procurement, construction, operation and maintenance of Water Treatment Plants (WWTPs) and Water Supply and Sewerage Schemes (WSSPs) through EPC and HAM models
Physical and chemical methods including UV light, electronic radiation, gamma rays, sound, heat, and chemical disinfectants such as chlorine, ozone, bromine, iodine, copper, silver, potassium permanganate to inactivate microorganisms
Purification method employing adsorbents such as activated carbon, molecular sieves, and zeolites to remove non-degradable organic compounds, volatile solvents, and recalcitrant organic pollutants from water
Three methodologies—thermal desalination, separation desalination, and chemical desalination—to remove salts and minerals from seawater for potable water, industrial processes, and oil field operations
Equipment including handheld meters, benchtop instruments, multiparameter meters, sondes, automatic water samplers, online/process monitors, and colorimeters for water quality testing and monitoring
Innovative technologies including biological wastewater treatment using microorganisms and solar photocatalytic wastewater treatment harnessing solar irradiation to degrade organic pollutants
Biological processes (activated sludge, membrane bioreactors, sequencing batch reactors), physical processes (filtration, sedimentation, flotation, membrane filtration), and chemical processes (coagulation, flocculation, advanced oxidation)
Biological treatment wherein suspended growth organisms (aerobic bacteria) degrade organic matter in wastewater through aeration tanks and settling chambers
Integration of bioreactor with membrane filtration units for biological processes combined with solid-liquid separation for high-quality effluent production
Technology combining strengths of activated sludge processes and biofilm media for cost-effective, space-saving wastewater treatment
Industrial processing tanks treating wastewater in discrete batches through Fill, React, Settle, Draw, and Idle phases to reduce BOD and COD
Anaerobic treatment technology with three-phase separator for gas, water, and sludge separation; converts organic contaminants to methane and carbon dioxide
Aerobic biological process using corrugated inert UV stabilized PVC media with mechanical aeration for rapid biomass digestion and treatment of sewage effluents
Diverse compounds including corrosion inhibitors, scale inhibitors, biocides, disinfectants, coagulants, flocculants, chelating agents, anti-foaming agents, and pH adjusters to address specific contaminants
Chemicals preventing degradation of metallic surfaces in industrial sectors through electrochemical process mitigation
Negatively charged surface active polymers disrupting crystalline structure of scale-forming minerals to prevent their deposition on surfaces
Chemical substances toxic to microorganisms, including oxidizing and non-oxidizing agents, introduced to achieve rapid and effective microbial population reduction
Organic and inorganic agents destabilizing suspended particles through charge neutralization to form larger aggregates removable through filtration or sedimentation
Chemical compounds forming stable complexes with metal ions to prevent reactions with other substances in water systems for metal cleaning, scale inhibition, and corrosion control
Critical components managing foam in water and wastewater treatment processes by averting foam-related disruptions and enhancing operational stability
Chemical agents manipulating pH levels through acids or bases to manage water supplies, prevent pipe corrosion, and optimize treatment efficiency
Instrumentation, control, and automation (ICA) systems including real-time monitoring, predictive maintenance, and optimization enabling seamless operation of treatment systems
Services developing cutting-edge technologies and implementing best practices for water and wastewater treatment facility design and construction
Services ensuring optimal performance, preserving functionality and longevity of plant equipment, and maintaining regulatory compliance of treatment facilities
Supplying clean and potable water to urban populations through processes like filtration, disinfection, and desalination
Catering to specific needs of manufacturing, power generation, pharmaceuticals, and other industries where water quality requirements are stringent
Collection of sewage from households through pipelines and intermediate pumping stations to treatment plants where sewage is treated to stringent norms for reuse in horticulture, refrigeration and processing industries. Treatment technologies include Sequential Batch Reactor (SBR), Moving Bed Biological Reactor (MBBR), Upflow Anaerobic Sludge Blanket Reactor (UASB) with Zero Liquid Discharge (ZLD) compliance.
Specialized tailor-made solutions for recycling and reuse of contaminated wastewater from manufacturing facilities including physico-chemical treatment, biological anaerobic treatment, tertiary treatment and advanced treatment for recycling and reuse.
Raw water pre-treatment, clarification, filtration, and disinfection. Water is drawn from rivers or water bodies through intake wells, treated at WTP, and distributed through pipelines and reservoirs to households via distribution networks.
Operations, maintenance and supply of consumables and spares for water and wastewater treatment plants. As of June 30, 2024, operating and maintaining 11 STPs and 5 CETPs with dedicated teams including chemists, fitters, electricians, operators and supporting staff.
Design, construction, operation and maintenance of WWTPs (Sewage Treatment Plants, Common Effluent Treatment Plants, Sewerage Schemes) and WSSPs (Water Treatment Plants with pumping stations and pipelines)
Construction, operation and maintenance of water and wastewater treatment plants
Construction, operation and maintenance of water supply scheme projects
SWOT Analysis
Strengths
- • Diversified project portfolio with strong order book visibility(p.46)
- • In-house designing, engineering and construction capabilities(p.43)
- • Exposure to growing government-funded water sector schemes(p.41)
- • Advanced technology deployment in treatment solutions(p.28)
- • Successful track record of project execution(p.47)
- • Established pre-bidding engineering capabilities with qualified design and engineering teams(p.57)
- • Significant O&M order book providing recurring revenue base(p.56)
- • Improved credit rating trajectory over three years(p.62)
- • Zero attrition among Key Managerial Personnel and Senior Management(p.63)
- • Successful execution track record with 28 WWTPs and WSSPs across India(p.61)
- • In-house designing, engineering and execution team with 180 engineers(p.139)
- • Diversified order book of 21 projects across India with aggregate value of ₹1,90,628.06 lakhs(p.139)
- • Established track record enabling consistent increase in eligibility for high value project tenders(p.139)
- • Use of advanced technologies in construction and installation of WWTPs and WSSPs(p.139)
- • Experienced promoters and senior management team with consistent financial performance(p.139)
- • Strong EBITDA margin of 23.23% in FY2024 demonstrating operational efficiency(p.142)
- • High return on net worth of 37.83% in FY2024 showing efficient asset utilization(p.142)
- • Diverse and well-established treatment technologies across multiple methodologies(p.168)
- • Proven effectiveness of membrane bioreactor technology in producing high-quality effluent(p.169)
- • Cost-effectiveness and space efficiency of MBBR technology(p.169)
- • Versatility and simplicity of adsorption equipment for multiple contaminants(p.164)
- • Multiple adsorbent options for targeted contaminant removal(p.164)
- • Innovative emerging technologies offering sustainable solutions(p.165)
- • In-house design, engineering, and execution capabilities with 180 engineers(p.224)
- • Established track record of 28 completed projects in 7 years, including 22 with 10+ MLD capacity(p.227)
- • Diverse order book across multiple states and project types with ₹1,90,628.06 lakhs value(p.227)
- • Strong financial performance with CAGR of 80.58% revenue growth over three years(p.228)
- • Experienced promoters with 20+ years industry experience in water & wastewater treatment(p.228)
- • Advanced technologies including SBR, MBBR, and emerging CBG and solar integration(p.227)
- • Established presence in water and wastewater treatment with 15+ years of operating history(p.312)
- • Strong promoter ownership and control with 99.97% of pre-offer capital(p.292)
- • Experience in operating through special purpose vehicles (SPVs) for HAM/BOT projects(p.312)
- • Multiple revenue streams from design, construction, and O&M services(p.319)
- • Established track record with 28 completed projects(p.398)
- • Significant order book providing revenue visibility(p.398)
- • In-house technical capabilities reducing dependence on third parties(p.398)
- • Own civil construction team reducing subcontracting dependence(p.398)
- • Strategic partnerships enabling access to larger projects(p.398)
- • Sustainability-focused project portfolio aligning with government priorities(p.398)
- • Diversified government customer base across multiple states mitigates client concentration risk(p.429)
- • Strong revenue growth with 115.59% increase in revenue from operations in Fiscal 2024(p.420)
- • Consistent profitability with 100.85% increase in restated profit before tax(p.421)
- • High-quality customer base predominantly comprising government entities with reliable payment track record(p.429)
- • Strong EBITDA margin of 23.23% in Fiscal 2024 demonstrating operational efficiency(p.415)
Weaknesses
- • High working capital requirements and cash flow intensity(p.45)
- • High attrition rate in operational workforce(p.43)
- • History of payment delays for employee statutory obligations(p.44)
- • Negative operating cash flows(p.51)
- • Significant dependence on joint venture partners(p.50)
- • Rising debt levels and increased borrowing requirements(p.55)
- • Dependence on experienced management team with limited succession planning and no keyman insurance(p.63)
- • Significant unsecured borrowings that can be recalled at any time(p.64)
- • Substantial bank guarantees and letters of credit represent significant working capital obligation(p.61)
- • Heavy reliance on government payments which are often delayed(p.59)
- • No strategic acquisitions attempted in the past, creating execution risk on inorganic growth strategy(p.60)
- • Inventory forecasting challenges with declining turnover ratio(p.64)
- • High debt-to-equity ratio of 0.95 as of June 30, 2024, indicating significant financial leverage(p.142)
- • Dependence on government authorities as primary customers, vulnerable to government funding cycles(p.126)
- • No prior experience with acquisitions despite proposed use of proceeds for inorganic growth(p.133)
- • SPV (EIEL Mathura) for major project has not yet achieved financial closure; no payments received(p.128)
- • Inadequate existing sewage treatment infrastructure relative to generation(p.191)
- • Poor actual utilization of existing treatment capacity(p.191)
- • Only partial compliance of treatment facilities with prescribed standards(p.193)
- • High operational and maintenance costs as a market restraint(p.194)
- • Insufficient sewerage conveyance infrastructure limiting treatment effectiveness(p.193)
- • High dependence on government sector projects with 99.99% revenue from government clients(p.258)
- • Concentration risk in Madhya Pradesh representing 68.15% of FY2024 revenue(p.258)
- • High debt-to-equity ratio of 0.95 as of June 30, 2024(p.225)
- • Significant dependence on top 10 suppliers representing 78.79% of purchases(p.254)
- • Order inflow nil in Q1 FY2024-25 indicating potential project pipeline challenges(p.226)
- • Significant losses in subsidiary EIEPL Bareilly with PAT margin of (10.69)% for FY 2024(p.271)
- • Negative net asset value per share in EIEPL Bareilly at (1,236.42) as of March 31, 2024(p.272)
- • High reliance on government entities for revenue, dependent on UP Jal Nigam(p.271)
- • Significant accumulated losses in subsidiaries with no profits in early years of operation(p.272)
- • High debt burden with rapidly increasing borrowings(p.377)
- • Significant working capital intensity affecting cash flows(p.400)
- • Concentrated customer base with government dependency(p.398)
- • Reliance on key skilled personnel for execution(p.399)
- • Exposure to technology changes requiring continuous capability upgrades(p.399)
- • Significant debt increase with total borrowings rising to ₹30,558.94 lakhs as of June 30, 2024(p.427)
- • High finance cost burden with 169.51% increase in Fiscal 2024(p.421)
- • Negative operating cash flow of ₹6,900.20 lakhs in Fiscal 2024 despite profitability(p.425)
- • Substantial increase in working capital requirements with trade receivables rising significantly(p.425)
- • Multiple pending arbitration petitions totaling approximately ₹3,763 lakhs for outstanding dues from government authorities(p.435)
Opportunities
- • Expanding global water treatment market(p.28)
- • Growth in rural water supply schemes through Jal Jeevan Mission(p.47)
- • Waste-to-energy initiatives in wastewater treatment(p.51)
- • Expansion into sewerage and pollution abatement programs(p.47)
- • Increasing focus on water treatment and reuse technologies including zero liquid discharge(p.58)
- • Expansion into larger capacity projects (up to 200 MLD for STPs)(p.61)
- • Growing bidding success rate improving competitiveness(p.69)
- • Expansion into new geographic regions and increased geographic diversification(p.61)
- • Government emphasis on water supply and sewerage infrastructure projects(p.56)
- • Global water treatment market projected to grow at CAGR of 6.89% through 2033(p.155)
- • Wastewater treatment market expected to grow at CAGR of 5.22% through 2033(p.157)
- • Asia Pacific water treatment market growing at CAGR of 6.96% representing significant regional opportunity(p.156)
- • Plans to expand into new markets including further bidding for HAM projects and 'Waste to Energy' initiatives(p.124)
- • Potential to acquire equipment manufacturing companies to reduce execution costs and enhance in-house capabilities(p.133)
- • Rapid market expansion driven by urbanization and population growth(p.178)
- • Significant untreated sewage volume presenting treatment capacity expansion opportunity(p.193)
- • Adoption of sustainable reduce-recycle-reuse approaches for market growth(p.195)
- • Government initiatives and substantial capital allocation supporting sector expansion(p.199)
- • Public-private partnership opportunities for infrastructure development(p.195)
- • Increasing demand for reuse of treated wastewater in non-potable applications(p.193)
- • Digital transformation and automation driving operational efficiency improvements(p.196)
- • Expansion into larger projects from 50-200 MLD STPs and 20-50 MLD CETPs(p.228)
- • Geographic expansion to East and South India regions(p.228)
- • HAM project funding to unlock larger project opportunities(p.229)
- • Government schemes providing infrastructure investment—Jal Jeevan Mission, AMRUT, Namami Gange Phase II(p.215)
- • Waste-to-energy and sustainability initiatives creating new revenue streams(p.230)
- • 2,413 water and wastewater treatment opportunities nationally valued at USD 93.02 billion(p.220)
- • Expansion through National Mission for Clean Ganga projects across multiple states(p.271)
- • Large capacity Sewage Treatment Plant projects underway including 135 MLD at Saharanpur(p.273)
- • Growth in WAM (Water and Wastewater Management) sector through Namami Gange Programme(p.273)
- • 15-year long-term O&M contracts providing stable recurring revenue streams(p.271)
- • Multiple government funding schemes driving sector growth(p.399)
- • Waste-to-energy initiatives creating new revenue streams(p.398)
- • Compressed Bio Gas (CBG) production from sewage treatment(p.398)
- • Increased government budgetary allocation anticipated for water infrastructure(p.399)
- • Expansion potential in pre-qualification for larger capacity projects(p.399)
- • Expanding government spending on water and wastewater infrastructure projects(p.432)
- • Capacity to pursue more projects given strong track record with multiple government authorities(p.429)
- • Growth from operation and maintenance segment with 223.45% increase in Fiscal 2024(p.420)
- • Expansion into new geographic markets and project types across different states(p.429)
Threats
- • Dependence on government budgetary allocations and policy changes(p.41)
- • Competitive bidding process and low bid conversion rates(p.41)
- • Volatility in construction material and labour costs(p.52)
- • Delays in government project awards and approvals(p.41)
- • Interest rate risk on floating rate debt(p.55)
- • Technology obsolescence and adoption challenges(p.53)
- • Regulatory and environmental compliance risks(p.53)
- • Project delays and cancellations due to factors beyond company control(p.57)
- • Rapid technological changes in water treatment requiring continuous innovation(p.58)
- • Intense competition from organized and unorganized players(p.69)
- • Volatility in raw material and labor costs impacting project margins(p.56)
- • Economic slowdown in India affecting government spending on infrastructure(p.81)
- • High inflation reducing purchasing power and increasing project costs(p.83)
- • Government contract terms heavily favor government authorities with limited negotiation ability(p.62)
- • Groundwater depletion and untreated water discharge creating market challenges(p.78)
- • Stringent regulatory requirements and compliance standards governing water quality and wastewater discharge(p.160)
- • Climate change and water scarcity creating variability in weather patterns affecting project implementation(p.155)
- • Project cost variations dependent on Construction Price Index adjustments affecting profitability(p.128)
- • Risk of failure to achieve financial closure for HAM projects within stipulated period attracting penalties(p.128)
- • Industrial competition from established regional and international water treatment companies(p.141)
- • Severe water stress and projected per capita water availability decline(p.181)
- • Groundwater depletion at critical levels across the country(p.188)
- • Severe surface water contamination affecting downstream communities(p.188)
- • Increasing emergence of drug-resistant waterborne diseases(p.188)
- • Stringent regulatory compliance requirements increasing costs and complexity(p.194)
- • Climate change exacerbating water scarcity and infrastructure pressure(p.194)
- • Monsoon-dependent water availability creating seasonal supply volatility(p.188)
- • Limited government funding in low-income states constraining market development(p.196)
- • Intense competition from major players including VA Tech Wabag, Ion Exchange, EMS Ltd.(p.260)
- • Price competitiveness is significant selection criterion in government tenders(p.251)
- • Regulatory and compliance requirements for environmental standards and water quality(p.262)
- • Liquidated damages penalties for delays in project completion(p.251)
- • Raw material price volatility affecting project profitability(p.252)
- • Government policy changes and regulatory uncertainties affecting project pipelines(p.221)
- • Dependence on government payments and potential delays in fund releases from UP Jal Nigam(p.271)
- • Regulatory and policy changes affecting water and wastewater treatment projects(p.298)
- • Interest rate risk on significant borrowings of Rs. 30,559 lakhs as of June 30, 2024(p.305)
- • Project execution risks and cost overruns affecting profitability(p.319)
- • Dependence on government budget allocations and policy continuity(p.398)
- • Volatility in raw material prices beyond company control(p.400)
- • Inability to recover increased material and labour costs from customers(p.400)
- • Project execution delays due to external factors(p.400)
- • Intense competition in bidding for government contracts(p.399)
- • Interest rate exposure on substantial working capital borrowings(p.400)
- • Heavy dependence on government funded projects with exposure to budget allocation changes(p.432)
- • Significant revenue concentration in WWTPs and WSSPs with 96.14% of revenue derived from these segments in Fiscal 2024(p.432)
- • Seasonal business with 41.30% of revenue concentrated in Q4 (January-March) for Fiscal 2024(p.432)
- • Exposure to policy changes and delays in project awards by government authorities(p.432)
- • Interest rate risk from REPO/T-Bill linked borrowings with potential for increased finance costs(p.431)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Sanjay Jain | Promoter/Promoter Selling Shareholder | 37.21% | — |
| Manish Jain | Promoter/Promoter Selling Shareholder | 37.21% | — |
| Ritu Jain | Promoter/Promoter Selling Shareholder | 9.59% | — |
| Shachi Jain | Promoter/Promoter Selling Shareholder | 9.59% | — |
| Sanjay Jain | Promoter/Promoter Selling Shareholder | — | — |
| Manish Jain | Promoter/Promoter Selling Shareholder | — | — |
| Shachi Jain | Promoter Group/Promoter Selling Shareholder | — | — |
| Ritu Jain | Promoter Group/Promoter Selling Shareholder | — | — |
| Sanjay Jain | Promoter | 37.21% | — |
| Manish Jain | Promoter | 37.21% | — |
| Ritu Jain | Promoter | 9.59% | — |
| Shachi Jain | Promoter | 9.59% | — |
| Sanjay Jain | Promoter | — | — |
| Manish Jain | Promoter | — | — |
| Sanjay Jain | Promoter | 37.21% | — |
| Manish Jain | Promoter | 37.21% | — |
| Ritu Jain | Promoter | 9.59% | — |
| Shachi Jain | Promoter | 9.59% | — |
| Sanjay Jain | Promoter/Chairman & Whole Time Director | — | — |
| Manish Jain | Promoter/Managing Director | — | — |
| Sanjay Jain | Promoter Selling Shareholder | — | — |
| Manish Jain | Promoter Selling Shareholder | — | — |
| Ritu Jain | Promoter Selling Shareholder | — | — |
| Shachi Jain | Promoter Selling Shareholder | — | — |
Leadership
Sanjay Jain · Chairman and Whole-Time Director
Manish Jain · Managing Director
Sunil Chauhan · Chief Financial Officer
Piyush Jain · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Enviro Infra Engineers IPO FAQs
What is the lot size of Enviro Infra Engineers IPO?
The minimum lot size of Enviro Infra Engineers IPO is 101 shares. One lot costs ₹14,948 at the cut-off price.
When does Enviro Infra Engineers IPO open and close?
Enviro Infra Engineers IPO opened for subscription on 22 Nov 2024 and closed on 26 Nov 2024.
What is the listing date of Enviro Infra Engineers IPO?
Enviro Infra Engineers IPO listed on 29 Nov 2024.