Envirotech Systems IPO GMP, Subscription Status Today And More

Envirotech Systems Ltd.'s initial public offering opened for bidding on Friday. The Rs 30.24-crore public offer is an entirely fresh issue of 54 lakh shares. The bidding process for this SME IPO will conclude on September 19. Check Envirotech Systems IPO GMP, subscription status today and much more below.

The SME issue was subscribed 2.71 times on Day 1, 6.36 times on Day 2 and 14.32 times on Day 3.

Click on the link to check the latest GMP of Envirotech Systems and Day 5 Subscription Status.

Envirotech Systems IPO has been subscribed 19.93 times as of 4:20 p.m. on Wednesday.

• Qualified Institutions: 3.07 times.

• Non-Institutional buyers: 12.05 times

• Retail investors: 32.94 times

Envirotech Systems IPO GMP today is Rs 0 as of 03:31 p.m., implying no gains over the issue price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 56 per share.

GMP is not an official price quote for the stock and is based on speculation. 

Envirotech Systems IPO price band has been set at Rs 53 to Rs 56 per share. The lot size, which is the minimum number of shares an applicant has to buy, has been fixed at 2,000. This means that a retail investor has to invest a minimum of Rs 1.12 lakh to apply for the IPO. 

As per the company's red herring prospectus, of the 54,00,000 shares offered - 17.41% is reserved for QIB, 13.07% for non-institutional investors, 30.48% for retail investors and 26.04% for Anchor investors.

Bigshare Services Pvt. is the registrar for the Envirotech Systems IPO. 

Share India Capital Services Pvt. has been appointed as book-running lead manager for the issue, whereas Share India Securities is its market maker.

Share allotment will be finalised by September 20. The company’s shares are tentatively scheduled to be listed on the NSE SME platform, Emerge, on September 24.

Founded in 2007, Envirotech Systems Ltd. manufactures acoustic products and specialises in noise measurement and control for industrial and commercial applications. 

Envirotech Systems has over 98 employees and a network of technical experts offering services pan-India.

The company has its registered office in New Delhi and a manufacturing unit in Greater Noida.

Envirotech Systems will use the proceeds from the IPO to purchase land to set up a factory. The company will also use the funds to meet working capital requirements and general corporate purposes.

Envirotech Systems Ltd. reported a total revenue of Rs 46.87 lakh for the year ended March 31, 2024, up by 63% from Rs 28.74 crore in fiscal 2023.

The company's net profit grew 344.11% year-on-year to Rs 11.42 crore in fiscal 2024 from Rs 2.57 crore in fiscal 2023.

The subscription, allotment and listing date has been extended basis the update available on BSE website.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.