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Company News
Effwa Infra & Research Ltd
NSE SME EFFWA Infra & Research soars on debut
Jul 12,2024   Hrs IST

The scrip was listed at Rs 155.80, a premium of 90% over the initial public offer (IPO) price. The stock is currently frozen in its upper limit of 5% over its listing price.

The counter hit a high of Rs 163.55 and a low of Rs 155.80. About 6.62 lakh shares of the company changed hands at the counter.

EFFWA Infra & Research (EIRL)'s IPO was subscribed 209.68 times. The issue opened for bidding on 5 July 2024 and it closed on 9 July 2024. The price band of the IPO was fixed between Rs 78 to Rs 82 per share.

The IPO comprised fresh issue of 53,16,800 equity shares and offer for sale (OFS) upto 9,36,000 shares by existing shareholders. The promoter and promoter group shareholding diluted to 72.99% from 99.99% pre-issue.

The company intends to use net proceeds for funding working capital requirements, capital expenditure requirements of the company towards purchase of new office equipments and general corporate purposes.

Ahead of the IPO, EFFWA Infra & Research (EIRL) on 4 July 2024, raised Rs 14.33 crore from anchor investors. The board allotted 17.48 lakh shares at Rs 82 per share to 7 anchor investors.

EFFWA Infra & 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. company operates in the Domestic Market as well as International Market. As on 31 March 2024, the company has 118 employees.

The company recorded revenue from operations of Rs 145.15 crore and net profit of Rs 13.80 crore for the period as on 31 March 2024.

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