Wastewater treatment solutions provider SFC Environmental Technologies made a positive stock market debut, with its shares listing at a premium of more than 7% over the IPO price of ₹330. The company’s ₹668-crore IPO was subscribed 9.47 times.
New Delhi, November 3 — Shares of SFC Environmental Technologies Ltd made a strong debut on the stock exchanges on Tuesday, listing at a premium of nearly 8% over the issue price of ₹330 per share.
On the BSE, the stock opened at ₹354.05, representing a premium of 7.28% over the issue price.
The shares made a slightly stronger debut on the NSE, opening at ₹355.10, a premium of 7.60%.
Following the listing, the wastewater treatment solutions provider commanded a market valuation of ₹4,161.69 crore.
The positive debut followed healthy investor demand for the company’s initial public offering.
SFC Environmental Technologies’ ₹668-crore IPO was subscribed 9.47 times on the final day of bidding last Thursday.
The company had fixed an IPO price band of ₹313-330 per share.
The public issue consisted of a fresh issue of equity shares worth ₹150 crore, along with an offer-for-sale of up to 1.57 crore equity shares by promoters and existing shareholders.
The company plans to use proceeds from the fresh issue primarily for repayment of debt and meeting working capital requirements.
Founded in 2005, Mumbai-based SFC Environmental Technologies provides wastewater treatment solutions using proprietary technologies.
Its portfolio includes C-Tech, an advanced technology used for the treatment of sewage and industrial effluents.
The company serves customers across the infrastructure and environmental-services ecosystem.
Its clients include SMC Infrastructures, Rajkamal Builders Infrastructure, Ramky Infrastructure, EMS and Enviro Infra Engineers.
The listing comes amid increasing focus on wastewater management and environmental infrastructure in India, creating opportunities for companies providing sewage and effluent treatment solutions.
The nearly 8% listing premium indicates a positive initial response from investors, although the stock’s performance going forward will depend on factors including the company’s financial growth, execution capabilities and broader market conditions.
