Envirotech Systems Shocks Investors with 90% Premium on NSE SME; Debut at ₹106.40!Envirotech Systems Shocks Investors with 90% Premium on NSE SME; Debut at ₹106.40!

Envirotech Systems had a strong debut on the NSE SME on September 24, opening at ₹106.40, a 90% premium over its issue price of ₹56. The stock quickly reached its upper price limit of ₹111.70, up 5%.

Envirotech Systems’ IPO, which opened on September 13 and closed on September 19, raised ₹30.24 crore by offering 54 lakh shares priced between ₹53 and ₹56. The IPO was highly popular, being subscribed nearly 92 times overall.

Founded in 2007, Envirotech Systems Limited specializes in noise measurement and control, offering innovative and cost-effective acoustical solutions for various markets. With a team of over 98 employees, they manufacture customized noise control solutions, focusing on quality and customer satisfaction to foster long-term client relationships and growth.

The objective of the Envirotech Systems IPO was to raise ₹30.24 crore through the issuance of 54 lakh shares, aimed at enhancing the company’s capital base for growth initiatives, expanding operational capacity, and strengthening its financial position for future projects.