EAAA and SFC Environmental IPOs to open next week
EAAA's offer opens on October 26 and is entirely an offer for sale. SFC follows on October 27 with fresh equity and a shareholder sale.
EAAA India Alternatives and SFC Environmental Technologies will open their initial public offerings next week, with different implications for capital reaching the businesses.
EAAA's public subscription runs from October 26 to 28. Its price band is INR 1,585 to INR 1,665 per share, with a minimum bid of nine shares. One lot at the upper band amounts to INR 14,985.
The alternatives manager's offer of up to INR 1,200 crore is entirely a sale by Edelweiss Securities and Investments. EAAA will receive no proceeds from that shareholder sale. Its businesses include real assets and private credit. Its offer documents identify variable-return income and cash-flow volatility among the risks.
SFC's public offer runs from October 27 to 29, at INR 313 to INR 330 per share. The minimum bid is 45 shares, or INR 14,850 for one lot at the upper band.
The wastewater and solid-waste technology company's offer comprises fresh shares of up to INR 150 crore and an offer for sale of up to 15,682,750 shares. Fresh proceeds are intended for debt prepayment, working capital and general corporate purposes. Shareholder-sale proceeds will go to the sellers.
SFC's offer documents flag technology dependence and substantial working-capital requirements. Both companies propose listings on the NSE and BSE. Final offer prices will be determined through book building.
