Envirotech Systems Ltd IPO Timeline

Envirotech Systems Ltd IPO opens on 13-Sep-2024, and closes on 18-Sep-2024. The Envirotech Systems Ltd IPO bid date is from 13-Sep-2024 to 18-Sep-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Envirotech Systems Ltd IPO Opening Date 13-Sep-2024
Envirotech Systems Ltd IPO Closing Date 18-Sep-2024
Basis of Allotment 19-Sep-2024
Initiation of Refunds 20-Sep-2024
Credit of Shares to Demat 20-Sep-2024
Envirotech Systems Ltd IPO Listing Date 23-Sep-2024

Envirotech Systems Ltd IPO Lot Size

Envirotech Systems Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 112000).

Application Lots Shares Amount
Minimum 1 2000 ₹112000
Maximum 1 2000 ₹112000

Envirotech Systems Ltd IPO Details

Envirotech Systems Ltd IPO Date 13-Sep-2024 to 18-Sep-2024
Envirotech Systems Ltd IPO Face Value Shares of ₹10 per share
Envirotech Systems Ltd IPO Price ₹53 to ₹56 per share
Envirotech Systems Ltd IPO Lot Size 2000
Issue Size Shares of ₹10 (aggregating up to ₹28.62 - 30.24 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹30.24 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Manoj Kumar Gupta, Sindhu Gupta.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Purchase Land and Building for setting up factory
  • 2 Funding of working capital requirements
  • 3 General corporate expenses

Company Financials

Envirotech Systems Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 38.67 46.88 11.43
03-2023 22.76 28.75 2.57
03-2022 13.87 18.50 1.06
Amount in ₹ Crore
  • Experienced Promoters and Management Team.
  • Quality Assurance of its Services.
  • Established relationship with existing client.
  • Scalable Business Model.
  • The Company, Promoters, Directors and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
  • One of the members of the Promoter group has defaulted on a personal loan with outstanding of Rs 113,225 for which proceedings in DRT has been initiated against him. One of the members of the Promoter group has defaulted on a personal loan with outstanding of Rs 113,225 for which proceedings in DRT has been initiated against him.
  • The Company has reported certain negative cash flows from its operating activity, investing activity and financing activity, details of which are given below.
  • The company does not own registered office which is used by its currently.
  • The Land being purchased by M/s Envirotech Systems Limited from M/s Oriental Trimex Limited has been pledged by Oriental Trimex Limited as collateral to secure a loan of approximately Rs.37.25 crore(against multiple locations properties located at Chennai, Kolkata, Greater Noida (Manufacturing Plants) & New Delhi (Residential) from Edelweiss Bank. In case of any delay in making payment there may be adverse effect on the expansion plans of the business.
  • The company is highly dependent on its suppliers for uninterrupted procurement and sale of the company traded goods. Any disruption of supply from such entities may affect its business operations.
  • The company has not made any provision regarding payment of gratuity in its restated and audited financial statements of the company.
  • The company has Manufacturing Facility, continued operations of its manufacturing facility is critical to the company's business and any disruption in the operation of its manufacturing facility may have a material adverse effect on its business, results of operations and financial condition.
  • The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.
  • Substantial portion of its revenues has been dependent upon the company few customers. The loss of any one or more of its major clients would have a material adverse effect on its business operations and profitability.
  • The company has made an application with the Registrar of Trade Marks for registration of the word and same has been under the status Objection. Any delay in receiving the approval and/or granting registration or in obtaining registration could result in loss of trademark & brand equity and the Company right to use the said trademark.
  • In case of its inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operates the company's business it may have a material adverse effect on its business.
  • The company has incurred indebtedness and an inability to comply with repayment and other covenants in its financing agreements could adversely affect the company's business and financial condition. In addition, certain of its financing agreements involve variable interest rates and an increase in interest rates may adversely affect its results of operations, cash flows and financial condition.
  • There are certain discrepancies in some of its corporate records relating to forms filed with the Registrar of Companies.
  • The Company requires significant amounts of working capital for a continued growth. Its inability to meet the company's working capital requirements may have an adverse effect on its results of operations.
  • Its lenders have charge over the company movable and immoveable properties in respect of finance availed by it.
  • Its business, growth prospects and financial performance largely depends on its ability to obtain new contracts, and there is no assurance that the company will be able to procure new contracts.
  • The company has in the past entered into related party transactions and may continue to do so in the future.
  • The company has availed unsecured loans which are repayable on demand. Any demand for repayment of such unsecured loans, may adversely affect its cash flows.
  • Increase in costs or a shortfall in availability of the materials the company purchase could have a material adverse effect on the Company's sales, profitability and results of operations. Increase in costs or a shortfall in availability of the materials the company purchase could have a material adverse effect on the Company's sales, profitability and results of operations.
  • Changes in technology may affect its business by making the company equipment or products less competitive or obsolete.
  • There are certain non-compliances noticed in some of its records relating to filing or returns and deposit of statutory dues with the taxation and other statutory authorities.
  • Its insurance policies does not cover all risks, specifically risks like loss of profits, terrorism, etc. In the event of the occurrence of such events, its insurance coverage may not adequately protect the company against possible risk of loss.
  • All of its product verticals are competitive segments and the company faces risk of competition affecting its margins and profitability as the company scale its operations. There may be a potential impact on its profitability if any big market player enters in this industry.
  • The company propose to utilize a portion of the Net Proceeds for funding working capital requirements of the Company.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior shareholders' approval.
  • If the company is unable to source business opportunities effectively, its may not achieve the company's financial objectives.
  • Substantial portion of its revenues has been dependent upon the company few customers. The loss of any one or more of its major clients would have a material adverse effect on the company's business operations and profitability.
  • Its industry is labour intensive and the company's business operations may be materially adversely affected by strikes, work stoppages or increased wage demands by its employees or those of the company suppliers.
  • At present its manufacturing facility is not fully automated. Further any disruption in production at, or shutdown of, its manufacturing facility could adversely affect the company's business, results of operations and financial condition.
  • Its future funds requirements, in the form of issue of capital or securities and/or loans taken by the company, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
  • Delays or defaults in client payments could affect its operations.
  • Failures to manage the company inventory could have an adverse effect on its net sales, profitability, cash flow and liquidity.
  • Any adverse changes in regulations governing its business operations or products or the products of the company endcustomers, may adversely impact its business, prospects, results of operations and cash flows.
  • Its Promoter and the Promoter Group will jointly continue to retain majority shareholding in the Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
  • Its ability to pay dividends in the future will depends upon the company future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
  • Its success depends largely upon the services of the company Directors, Promoter and other Key Managerial Personnel and its ability to attract and retain them. Demand for Key Managerial Personnel in the industry is intense and its inability to attract and retain Key Managerial Personnel may affect the operations of the Company.
  • The company has not commissioned an industry report for the disclosures made in the chapter titled ndustry Overview' and made disclosures on the basis of publicly available data and such data has not been independently verified by the company.
  • Certain data mentioned in this Red Herring Prospectus has not been independently verified.
  • Its Promoter, Directors and Key Management Personnel may have interests in it other than reimbursement of expenses incurred and normal remuneration or benefits.
  • The company has not identified any alternate source of raising the funds mentioned as its `Objects of the Issue'. Any shortfall or delay in raising/meeting the same could adversely affect its growth plans, operations and financial performance.
  • Any Penalty or demand raised by statutory authorities in future will affect its financial position of the Company.
  • There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its management and the company board of Directors, though it shall be monitored by its Audit Committee.
  • Its future fund requirements, in the form of further issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
  • Its customers does not commit to long-term or continuing contracts and may cancel or modify their orders or postpone or default in their payments. Any cancellation, modification, payment postponement or payment default in regard to its order book could materially harm the company cash flow position, revenues and earnings.
  • Under-utilization of its manufacturing capacities and an inability to effectively utilize the company expanded manufacturing capacities could have an adverse effect on its business, future prospects and future financial performance.
  • If the services the company provide as a part of its contracts with its customers are found to be deficient, the company may lose its customers and may be subject to product liability claims or claims alleging deficiency in service, which may also cause damage to its reputation and/or adversely affect the company's business, results of operations.
  • Any inability to perform some contract or other obligations for which the company has given bank guarantees, could adversely affect its business, financial condition, cash flows and credit rating.
  • Labour unrests may result in activities slowdowns and increased employee costs, which may adversely impact its business and results of operations.
  • Inability to update the designs and engineering and to formulate cost effective strategy may have an adverse effect on its profitability and have an adverse effect on its business operations.
  • A shortage or non-availability of essential utilities such as power and fuel could affect its manufacturing operations and have an adverse effect on the company's business, results of operations.
  • Its may be unable to detect, deter and prevent all instances of fraud or other misconduct committed by the company employees which may have a material adverse effect on its business, reputation, results of operations, financial condition and cash flows.
  • Leveraging our Market skills and Relationships.
  • Improving functional efficiencies.
  • Enhance customer base and to establish long-term relationships.
  • To build-up a professional organization.
  • Expand geographical reach.
  • Strengthening up its business through effective branding, promotional and digital activities.
  • Achieving Operational Efficiencies.

Envirotech Systems Ltd IPO Promoter Holding

Pre Issue Share Holding 96.48%
Post Issue Share Holding 68.74%

Envirotech Systems Ltd IPO Subscription Status (Bidding Detail)

The Envirotech Systems Ltd IPO is subscribed 2.1342 times on Sep 16, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 2.1342

Envirotech Systems Ltd IPO Prospectus

Envirotech Systems Ltd IPO Listing Date

Listing Date 23 Sep 24
BSE Script -
NSE Symbol -
Listing In NSE - SME
ISIN INE0SUH01015
IPO Price -
Face Value ₹10

Envirotech Systems Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: 011-42425004
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Envirotech Systems Ltd IPO Lead Manager(s)

  1. Share India Capital Services Pvt Ltd

FAQs on Envirotech Systems Ltd IPO

Envirotech Systems Ltd IPO, which opens for subscription from 13-Sep-2024 to 18-Sep-2024 has an issue size of ₹28.62 - 30.24 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Envirotech Systems Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Envirotech Systems Ltd IPO Opens for subscription from 13-Sep-2024 to 18-Sep-2024.

The lot size of Envirotech Systems Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹112000 and ₹112000 respectively.

Allotment date for Envirotech Systems Ltd is 19-Sep-2024 and refund of application amount (in case allotment is not received) will begin from 20-Sep-2024. If your allotment goes through, then shares will be credited in your Demat account by 20-Sep-2024.

The registrar for Envirotech Systems Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Envirotech Systems Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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