SFC Environmental Tech raises  Rs 200 cr from anchor investors – Daily Excelsior

NEW DELHI, Oct 27:  Wastewater treatment solutions provider SFC Environmental Technologies Ltd has raised Rs 200 crore from anchor investors as the company’s Rs 668 crore Initial Public Offering (IPO) opens for subscription on Tuesday.The company allocated 60,68,460 equity shares to anchor investors at Rs 330 apiece, according to circulars uploaded with the stock exchanges.Among the investors that participated in the anchor round were Government Pension Fund Global, Societe Generale, Edelweiss Life Insurance Company, SBI Mutual Fund, ICICI Prudential Mutual Fund and Nippon India Mutual Fund.The company’s IPO will close on October 29.The company has fixed a price band of Rs 313-330 per share, valuing it at around Rs 3,233 crore at the upper end.The issue comprises a fresh issue of equity shares worth Rs 150 crore and an Offer For Sale (OFS) of up to 1.57 crore equity shares by promoters and existing shareholders.Proceeds from the fresh issue will be used for debt repayment and working capital requirements.The company’s shares are proposed to be listed on the BSE and NSE on November 3.Incorporated in 2005, the Mumbai-based company provides wastewater treatment solutions using proprietary technologies, including C-Tech, an advanced technology for treating sewage and effluents.Its customers include SMC Infrastructures, Rajkamal Builders Infrastructure, Ramky Infrastructure, EMS and Enviro Infra Engineers.IIFL Capital Services, JM Financial and Nuvama Wealth Management are the book-running lead managers to the issue, while MUFG Intime India is the registrar. (PTI)