Business · India Bureau
SFC Environmental Technologies launches ₹668 crore IPO from October 27
The wastewater treatment solutions provider has fixed a price band of ₹313-330 per share for its public issue. The company will be valued at approximately ₹3,233 crore at the upper end of the price band.
LSN India ·
SFC Environmental Technologies Ltd announced on Wednesday that its ₹668 crore initial public offering will open for public subscription on October 27, with anchor investor bidding scheduled for October 26. The Mumbai-based company has set a price band of ₹313-330 per share for the issue.
The IPO comprises a fresh equity issuance worth ₹150 crore and an offer-for-sale of up to 1.57 crore shares by promoters and existing shareholders. Subscription to the public issue will close on October 29. The company's equity shares are slated for listing on both the BSE and NSE on November 3.
Proceeds from the fresh issue will be directed towards debt repayment and meeting working capital requirements, according to regulatory disclosures. Incorporated in 2005, SFC Environmental Technologies specializes in wastewater treatment solutions using proprietary technologies designed for industrial and municipal applications.
At the top end of the price band, the company's valuation stands at around ₹3,233 crore, reflecting investor interest in the environmental technology sector as India focuses on infrastructure development and pollution control initiatives.