Enviro Infra Engineers IPO sees strong demand as grey market premium rises to ₹53

Enviro Infra Engineers Limited's initial public offering (IPO) opened on November 22 and will close on November 26, 2024. The IPO has received strong interest, with overall subscriptions exceeding two times the offered shares after the first day. The grey market premium for Enviro Infra shares has increased to ₹53, up from ₹31 on Friday. This rise reflects positive market sentiment following a trend reversal in Indian stocks and strong investor response. Analysts have mixed views on the IPO's valuation compared to peers. Some recommend subscribing for long-term growth, citing a strong order book and revenue growth, while others note potential limitations due to recent subdued tendering activity.