The SFC Environmental Technologies IPO got 16 percent subscription by 11:42 am on October 28. Retail investors led the demand on the second day of bidding. The company fixed the price band at Rs 313–330 per share. Shares are expected to list on the stock exchanges on November 3.
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The initial public offering (IPO) of SFC Environmental Technologies saw subdued demand on the second day of bidding, with the issue receiving 16 percent subscription by 11:42 am on October 28, as per NSE data.
The Rs 667.5 crore IPO recorded bids for 22,11,660 shares against 1,41,59,744 shares on offer. Retail investors led the demand with 24 percent subscription, followed by non-institutional investors with 18 percent subscription.
In the grey market, SFC Environmental Technologies shares were commanding a grey market premium of 5 percent on the morning of October 28, as per InvestorGain.
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The grey market premium is an unofficial indicator of investor sentiment towards a public issue before its listing. However, it does not guarantee listing gains, and the premium can fluctuate depending on market conditions and investor demand.
The company has fixed the IPO price band at Rs 313–330 per share. At the upper end of the price band, SFC Environmental Technologies is valued at Rs 3,232.5 crore.
The IPO comprises a fresh issue of Rs 150 crore and an offer for sale (OFS) of 1.56 crore equity shares worth Rs 517.5 crore. While the proceeds from the fresh issue will go to the company, the OFS component will allow existing shareholders, including promoters, to sell their shares.
Investors can bid for a minimum of 45 equity shares and in multiples of 45 shares thereafter.
At the upper end of the price band of Rs 330 per share, the minimum investment for retail investors will be Rs 14,850. The maximum investment for a retail investor under the individual retail category will be Rs 1,93,050, equivalent to 585 shares.
The company's shares are expected to list on the stock exchanges on November 3.
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The company posted a profit of Rs 1.5 crore in the first quarter of FY27, compared with a loss of Rs 1.3 crore in the corresponding quarter of the previous financial year.
Revenue nearly doubled to Rs 133.9 crore in the quarter ended June 2026, from Rs 67.8 crore in the year-ago period.
The company plans to use Rs 42.2 crore from the net proceeds of the fresh issue to repay debt and Rs 74.9 crore to meet working capital requirements. The remaining proceeds will be used for general corporate purposes.
Incorporated in 2005, SFC Environmental Technologies provides engineering solutions across wastewater treatment, wastewater recycling and reuse, and solid waste treatment.