Envirotech Systems IPO Opens Today: Key Dates, Price Band, and GMP – All You Need to Know

The IPO of Envirotech Systems has opened for subscription today and will close on September 18. The company aims to raise about ₹30.24 crore through this IPO, and its shares will be listed on the NSE SME platform. Here are 10 key details for investors:

1) IPO Size
Envirotech Systems plans to raise ₹30 crore through the issue of 54 lakh fresh equity shares.

2) Price Band
The share price for the IPO is set at ₹53-56 per share, with a minimum bid for 2,000 shares per lot.

3) Grey Market Premium (GMP)
Currently, there is no grey market premium (GMP) for Envirotech Systems shares before the IPO opens.

4) About the Company
Envirotech Systems, established in 2007, is an acoustic engineering company that focuses on noise control and measurement for both industrial and commercial use. It also designs and manufactures innovative acoustic products.

5) Industry Overview
India’s acoustics market, specifically the noise, vibration, and harshness (NVH) testing segment, was valued at $141 million in 2023 and is expected to grow at a CAGR of 7.33% through 2029.

6) Financial Performance
For the year ending March 2024, Envirotech Systems reported a total revenue of ₹46.88 crore and a net profit of ₹1.14 crore.

7) Use of IPO Funds
The funds from this IPO will be used to purchase land for a new factory, meet working capital needs, cover general corporate expenses, and handle IPO-related costs.

8) Lead Manager and Registrar
Share India Capital is the lead manager for the issue, while Bigshare Services is the IPO registrar.

9) Issue Structure
50% of the shares are reserved for qualified institutional buyers (QIB), 35% for retail investors, and 15% for non-institutional investors.

10) Important Dates
The IPO runs from September 13 to September 18, with the allotment likely to be confirmed on September 19. The shares are expected to be listed on the stock market on September 23.