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IPO ·
NSE, BSE
SFC Environmental Technologies Ltd
Closed
Environmental technology firm offering wastewater treatment, water recycling and solid-waste treatment solutions built on proprietary technologies.
Issue details
Price band
₹313 – ₹330
Face value
₹2
Lot size
45 shares
Minimum investment
₹14,850
Issue size
₹667.53 Cr
Fresh issue
₹150 Cr
Offer for sale
₹517.53 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
27 Oct 2026
Closes
29 Oct 2026
UPI mandate cut-off
5:00 PM on 29 Oct 2026
Allotment
30 Oct 2026
Refunds
2 Nov 2026
Shares in demat
2 Nov 2026
Listing
3 Nov 2026
Subscription and listing
Subscription
9.47x
Listing price
Not listed yet
Registrar
MUFG Intime India Pvt Ltd
Lead manager
IIFL Capital Services, JM Financial, Nuvama Wealth Management
Subscription by category
QIB (Ex Anchor)
18.81x
NII
12.81x
bNII (> ₹10L)
14.49x
sNII (< ₹10L)
9.43x
Retail
2.71x
Total
9.47x
Total applications
2,83,261
Anchor investors
Amount raised
₹200.26 Cr
Bid date
26 Oct 2026
50% lock-in ends
29 Nov 2026
Rest lock-in ends
28 Jan 2027
Grey market premium
Latest GMP
₹19
Est. listing price
₹349 (+5.8%)
Updated
30 Oct 2026
Unofficial grey market indication sourced via Chittorgarh. GMP is not regulated, can change quickly and is not a reliable guide to listing price. Not a recommendation.
Issue structure
Shares reserved per category and share of the total issue
QIB
1,01,14,102
50.00%
Anchor Investor
60,68,460
30.00%
QIB (Ex. Anchor)
40,45,642
20.00%
NII
30,34,231
15.00%
bNII > ₹10L
20,22,820
10.00%
sNII < ₹10L
10,11,410
5.00%
Retail
70,79,871
35.00%
Total
2,02,28,204
100.00%
Finaccle’s quick read
Avoid
The issue is mostly OFS (₹517.53 Cr of ₹667.53 Cr), FY26 PAT grew just 5%, and Q1 FY27 PAT dropped to ₹1.48 Cr, giving a post-issue P/E of 540.98x on annualised earnings.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
SFC Environmental Technologies provides wastewater treatment using its own SBR technology, along with water recycling, solid waste treatment and compressed biogas projects. It has 728 wastewater installations across 23 states and 5 union territories and runs two solid waste plants in Goa. FY26 total income was ₹821.27 Cr with 264 employees.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
21.55%
ROCE
22.21%
Debt / equity
0.24
PAT margin
19.94%
P/E post issue
540.98x
Market cap
₹3,232.57 Cr
Use of IPO money
Prepayment of borrowings (company and Vasudha Waste Treatment Pvt. Ltd.)
₹42.23 Cr
Working capital
₹74.92 Cr
General corporate purposes
—
Strengths
✓
Proprietary SBR and OREX treatment technologies
✓
Large installed base of 728 wastewater plants
✓
Repeat customers gave 91.98% of FY26 revenue
✓
Low debt/equity of 0.24
Risks to watch
!
About 78% of the issue is OFS (₹517.53 Cr of ₹667.53 Cr)
!
Q1 FY27 PAT fell to ₹1.48 Cr on income of ₹137.90 Cr
!
FY26 PAT grew only 5%
!
Borrowings more than doubled in FY26 to ₹195.64 Cr
!
Retail demand was modest at 2.71x against 18.81x for QIBs at close
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.