Effwa Infra & Research Limited IPO
Effwa Infra & Research Limited IPO
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Effwa Infra & Research Limited's successfully transitioned to public market status with its listing on NSE on 12-07-2024. The IPO mobilized 62,52,800 Shares in cumulative capital, including 53,16,800 Shares for corporate expansion and ₹7.68 Cr for shareholder liquidity management.
The public offering was conducted within the price parameters of ₹78 to ₹82, with minimum investment lots of 1600 shares. subscription activity between 05-07-2024 and 09-07-2024 demonstrated market reception to the company's valuation and growth narrative.
The allotment process concluded on 10-07-2024, finalizing share distribution to successful bidders. The listing represents a transformational event, providing the company with enhanced market visibility, regulatory compliance framework, and access to diversified investor capital.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Effwa Infra IPO About Company
Effwa Infra & Research Limited, founded in 2014, specializes in engineering, consulting, procurement, construction, and project management services in water pollution control. The company focuses on wastewater and industrial effluent treatment, solid waste disposal, aeration systems, hazardous waste management, and water treatment plants, offering comprehensive solutions from design to commissioning. It provides expertise in Effluent Treatment Plants (ETP), Sewage Treatment and Remediation (STP), Water Treatment and Distribution (WTP), and Hazardous Waste Management while also executing infrastructure projects involving wells, pump houses, pipelines, and electro-mechanical works. Operating across multiple Indian states, including Andhra Pradesh, Chhattisgarh, Gujarat, Maharashtra, Odisha, West Bengal, Madhya Pradesh, and Rajasthan, as well as in the international market, Effwa Infra & Research Limited has successfully completed over 45 water management projects for public sector undertakings, municipal corporations, and private entities. As of March 31, 2024, the company employs over 118 professionals, including 12 engineers specializing in wastewater treatment system planning and design, along with 76 engineers across civil, mechanical, electrical, instrumentation, automation, piping, and safety and quality control disciplines, reinforcing its commitment to sustainable and efficient water management solutions.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Effwa Infra IPO Strength Factors
- Specialized In-House Expertise: The company excels in designing and engineering water management infrastructure projects, ensuring high-quality, efficient, and sustainable solutions.
- Optimized Cost Structure: By leveraging a cost-effective outsourcing model, Effwa Infra & Research Limited minimizes capital expenditures while maintaining operational efficiency.
- Strong Leadership and Vision: A seasoned promoter and experienced management team provide strategic direction, driving long-term growth and stability.
Effwa Infra IPO Risk Factors
- Legal Risks: Ongoing litigation could pose reputational and financial risks, with adverse outcomes potentially impacting business operations.
- Financial Exposure from Bank Guarantees: Heavy reliance on bank guarantees may strain cash flows, and any invocation of these guarantees could affect financial stability.
- Revenue Concentration Risk: Dependence on a few key clients makes the company vulnerable to revenue fluctuations if any major client is lost.
Effwa Infra IPO Lead Manager(s)
- Shreni Shares Limited
Effwa Infra IPO Promoter(s)
- Dr. Varsha Subhash Kamal
- Mr. Subhash Ramavtar Kamal
Effwa Infra IPO FAQs
Effwa Infra & Research Limited IPO subscribed 313.73 times. The public issue subscribed 323.81 times in the retail category,166.56times in QIB, and -- times in the HNI (10+) category byNovember 21, 2025 12:58:45 PM (Day 21).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Effwa Infra IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Effwa Infra IPO FAQs
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