SFC Environmental Technologies secures ₹200cr anchor investment before IPO
Business
SFC Environmental Technologies just secured ₹200 crore from anchor investors ahead of its IPO, with shares snapped up by big names like Government Pension Fund Global and SBI Mutual Fund at ₹330 each.
The IPO is now open for subscriptions until October 29, giving more people a chance to get in.
Price band ₹313-₹330 values SFC ₹3,233cr
The share price ranges from ₹313 to ₹330, putting SFC's value at about ₹3,233 crore on the high end.
The company plans to use money raised from new shares mainly to pay down debt and boost working capital.
Founded in 2005 and based in Mumbai, SFC is known for using advanced tech like C-Tech for wastewater treatment, and they're aiming to list on BSE and NSE on November 3.