SFC Environmental Technologies IPO
SFC Environmental Technologies IPO is a mainboard IPO raising ₹668 Cr at ₹313 – ₹330 a share. The smallest application you can make is 45 shares, costing ₹14,850 at the top of the band. Bidding closes on 29 Oct 2026 and the shares list on 3 Nov 2026. So far it has been subscribed 0.10× in total.
Only 10% of shares on offer have been bid for
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
78% of this issue is existing shareholders cashing out. Only ₹150 Cr reaches the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs330. Checked: exchange issue size Rs668 Cr vs derived Rs667.5 Cr (0.1% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 62% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Thermax Limited | 52.01× | 13.74% | ₹63.94 |
| Praj Industries Limited | 220.77× | 1.77% | ₹1.3 |
| Ion Exchange (India) Limited | 31.34× | 11.2% | ₹12.03 |
| This issue | 20× | 21.25% | ₹16.52 |
derived: cut-off price Rs330 / stated EPS Rs16.52 (FY26 (year ended March 31, 2026) diluted EPS, restated consolidated, post sub-division and bonus issue). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.