Envirotech Systems is scheduled to hit the market on September 13, 2024 and close on September 17, 2024. Envirotech Systems plans to raise around ₹30.24 Cr through an IPO with a sale of up to 5,400,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Founded in 2007, Envirotech Systems Limited makes solutions for measuring and controlling noise in industrial and commercial settings. They focus on designing and supplying custom enclosures to reduce noise from machinery and mechanical equipment for both indoor and outdoor use. Their product range includes Noise Test Booths, Engine Test Rooms, Anechoic and Semi-anechoic Chambers, Acoustic Enclosures, Noise Barriers, Acoustic Louvers, and Metal Doors. The company serves clients all over India and has completed successful projects in various industries like oil and gas, manufacturing, power generation, cement, steel, automotive, and construction.
Envirotech has several competitive advantages. Being one of the early players in the Acoustic Insulation sector has helped them gain a strong position in the market. The promoters have over 20 years of experience, which gives them a deep understanding of the industry. They have a skilled technical team that ensures effective project execution. The company is committed to research and development, which keeps them innovative. They also collaborate with industry experts to boost their technical knowledge. All their products are rigorously tested and certified for quality by recognized government bodies. With a large customer database across different industries, Envirotech has established a solid market presence and trust. They currently employ over 98 people.
Envirotech Systems IPO Details
Envirotech Systems IPO opens on September 13, 2024, and closes on September 17, 2024. The Listing date for Envirotech Systems IPO is on September 20, 2024. The price band for IPO is ₹53 to ₹56 per share and lot size of 2000 Shares.
| IPO Date | September 13, 2024 to September 17, 2024 |
| Listing Date | September 20, 2024 |
| Price | ₹53 to ₹56 per share |
| Lot Size | 2000 Shares |
| Issue Size | ₹30.24 Cr |
| Face Value | ₹10 per share |
Envirotech Systems IPO Tentative Timetable
Envirotech Systems opening date is September 13, 2024 and close date is September 17, 2024. The IPO allotment date is September 18, 2024. The refund initiation of IPO is on September 19, 2024. The credit of shares in demat account is on September 19, 2024. The listing date is on September 20, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 13, 2024 |
| IPO Closing | September 17, 2024 |
| IPO Allotment Date | September 18, 2024 |
| Refund Initiation | September 19, 2024 |
| Shares Credit to Demat | September 19, 2024 |
| Lisiting Date | September 20, 2024 |
Envirotech Systems IPO Lot Size
Lot Size of this IPO is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹112,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 2000 | ₹112,000 |
| Retail(Maximum) | 1 | 2000 | ₹112,000 |
| HNI (Minimum) | 2 | 4000 | ₹224,000 |
Envirotech Systems IPO Promoter Holding
| Pre Issue Share Holding | 96.48% |
| Post Issue Share Holding | 68.75% |
Envirotech Systems IPO Review
The company is launching its first IPO by offering 5,400,000 equity shares at Rs. 10 each to raise Rs. 30.24 crore at the highest price.
On the financial performance front, for the last three fiscals, the company has posted a total revenue/net profit of Rs. 18.54 cr. / Rs. 1.06 cr. (FY22), Rs. 28.75 cr. / Rs. 2.57 cr. (FY23), and Rs. 46.88 cr. / Rs. 11.43 cr. The sudden boost in its bottom line for FY24 raises eyebrows and concern over its sustainability.
For the last three fiscals, the company has reported an average EPS of Rs. 5.06, and an average RoNW of 46.47%. The issue is priced at a P/BV of xx based on its NAV of Rs. 14.64 as of March 31, 2024, but the offer document/IPO price band ad is missing its post-IPO NAV data info.
If we attribute FY24 super earnings to its post-IPO fully diluted paid-up capital, then the asking price is at a P/E of 9.21. The issue relatively appears lucratively priced. Based on FY23 earnings, the P/E stands at 40.88.
For the reported periods, the company has posted PAT margins of 5.84% (FY22), 9.09% (FY23), 24.72% (FY24), and RoCE margins of 27.39%, 29.77%, 62.43% respectively for the referred periods.
This is the 13th mandate from Share India Capital in the last two financial years, including the current one. Out of the last 10 listings, 1 started trading at the same price as its issue price, while the others began at a premium between 5.33% and 120% on their listing day. There seems to be some confusion regarding the merchant banker's track record mentioned on pages 253 and 254 of the offer document.
The company is involved in making and servicing systems for measuring and controlling noise. It has seen growth in its sales over the past three years. However, the significant increase in net profit for FY24 has raised questions about whether this growth can be maintained. It seems that this performance before going public is aimed at justifying a high valuation. The company is working in a very competitive and divided market. Savvy investors might consider investing a moderate amount for the medium term.
Envirotech Systems IPO Subscription Status (Bidding Details)
Table not foundEnvirotech Systems IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Envirotech Systems IPO FAQs
What is Envirotech Systems IPO?
Envirotech Systems is issuing 5,400,000 equity shares with a face value of ₹10 each, totaling up to ₹30.24 Cr. The shares are being offered at a price of ₹53 to ₹56 each, with a minimum order quantity of 2000 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Envirotech Systems IPO will open?
Envirotech Systems will open on September 13, 2024 for QIB, NII, and Retail Investors.
When Envirotech Systems IPO will end?
Envirotech Systems will end on September 17, 2024.
What is Envirotech Systems IPO Size?
Envirotech Systems IPO size is ₹30.24 Cr.
What is Envirotech Systems IPO Price Band?
Envirotech Systems price band is ₹53 to ₹56 per share.
What is Envirotech Systems IPO Allotment Date?
Envirotech Systems allotment date is September 18, 2024.
What is Envirotech Systems IPO Listing Date?
Envirotech Systems listing date is September 20, 2024. The IPO is to be listed on BSE and NSE.
How to Envirotech Systems IPO through Zerodha?
To apply for the IPO “Envirotech Systems” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Envirotech Systems IPO through Upstox?
To apply for the IPO “Envirotech Systems” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Envirotech Systems IPO Allotment Status?
For Envirotech Systems IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Envirotech Systems IPO GMP?
You can check out here: Envirotech Systems IPO GMP. Check all IPO GMP here.