
SFC Environmental Technologies IPO
- Price band
- ₹313 – ₹330
- Issue size
- ₹668 Cr
- Min. investment
- ₹14,850
- 45 shares
- GMP
- ₹0
- 0.00%
- Subscribed
- —
- Bidding dates
- 27 – 29 Oct 2026
IPO timeline
- Opens27 OctTue
- Closes29 OctThu
- Allotment30 OctFri
- Refunds2 NovMon
- Demat credit2 NovMon
- Listing3 NovTue
Issue details
- Price band
- ₹313 – ₹330 per share
- Issue size
- ₹668 Cr
- Fresh issue
- Not available
- Offer for sale
- Not available
- Issue type
- Fresh capital cum OFS
- Face value
- ₹2 per share
- Lot size
- 45 shares
- Minimum investment
- ₹14,850
- Listing on
- BSE, NSE
- Exchange code
- —
This issue combines a fresh issue and an offer for sale. The amounts for each part are not available in our data; see the offer document for the split.
Lot size and investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 45 | ₹14,850 |
| Retail (Max) | 13 | 585 | ₹1,93,050 |
| S-HNI (Min) | 14 | 630 | ₹2,07,900 |
| B-HNI (Min) | 68 | 3,060 | ₹10,09,800 |
Reservation
- QIB
- Not more than 50% of the Net Offer
- Retail
- Not less than 35% of the Net Offer
- NII
- Not less than 15% of the Net Offer
Grey market premium (GMP)
- Current GMP
- ₹0
- 0.00%
- Estimated listing price
- ₹330
- Issue price ₹330
GMP is an unofficial indicator from an unregulated market. It is shown for information only and is not a prediction of the listing price or a recommendation to apply.
Subscription status
Subscription figures will appear here once bidding opens on 27 Oct 2026.
Financials
- P/E Ratio
- 540.98
- EPS (₹)
- 0.61
- RoE
- 0.18%
- RoCE
- 0.72%
- RoNW
- 0.19%
- PAT Margin
- 1.11%
- EBITDA Margin
- 7.36%
- Debt / Equity
- 0.25
- NAV (₹)
- 86.23
Separate pre- and post-issue P/E are not available for this IPO; the P/E shown is as disclosed for the issue.
| Period ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 1,224.56 | 1,323.43 | 999.47 | 904.94 |
| Total Income | 137.90 | 821.27 | 726.96 | 676.74 |
| Profit After Tax | 1.48 | 160.21 | 152.01 | 144.17 |
| EBITDA | 9.86 | 235.81 | 207.48 | 193.25 |
| NET Worth | 805.49 | 804.17 | 648.68 | 534.30 |
| Reserves and Surplus | 784.14 | 782.63 | 628.54 | 526.41 |
| Total Borrowing | 204.77 | 195.64 | 83.71 | 139.16 |
About SFC Environmental Technologies
SFC Environmental Technologies Limited was incorporated in March 2005. It is an environmental technology company that designs, makes, supplies, installs and commissions systems for wastewater treatment, wastewater recycling and reuse, and solid waste treatment. The wastewater business is built on its own C-Tech technology, an advanced sequencing batch reactor (SBR) process used in sewage treatment plants and industrial effluent treatment. The company sells technology packages, equipment, automation systems, installation, commissioning and related services. As of 31 July 2026 it had commissioned 728 wastewater treatment installations, which treat 17,511.11 million litres of wastewater per day. The source page says it holds over 80% market share in SBR technology in India. It has also entered wastewater recycling and reuse using ultrafiltration, closed circuit reverse osmosis and membrane bioreactor technologies. It has an exclusive supply arrangement with DuPont for selected products in India. In solid waste, the company uses its own Organic Extraction (OREX) technology, which separates biodegradable organic matter from mixed municipal waste to support biogas generation. It runs two integrated solid waste treatment facilities in Goa with a combined capacity of up to 425 tonnes per day. Through a subsidiary, it has orders for compressed biogas plants in Assam and Odisha with a combined order value of Rs 501.70 crore (Rs 5,017 million). The company works across 23 states and five Union Territories. Its customers include engineering, procurement and construction companies, municipal bodies and government-owned entities. As of 31 August 2026 it had 264 employees, of whom 149 were engineers.
Strengths
- Total income grew from Rs 676.74 crore in FY2024 to Rs 821.27 crore in FY2026, and profit after tax from Rs 144.17 crore to Rs 160.21 crore.
- FY2026 EBITDA was Rs 235.81 crore, with an EBITDA margin of 29.34% and a PAT margin of 19.94% on the source page.
- Return on equity was 21.55% and return on net worth 21.25% in FY2026, on a net worth of Rs 804.17 crore.
- The company has commissioned 728 wastewater treatment installations as of 31 July 2026 and the source page says it has over 80% market share in SBR technology in India.
- Repeat customers gave 91.98% of revenue in FY2026, and the company has compressed biogas orders worth Rs 501.70 crore (Rs 5,017 million) in Assam and Odisha.
- At the upper band of Rs 330, the pre-issue P/E is 19.24 on a pre-issue EPS of Rs 17.15, based on FY2026 earnings.
- Debt to equity was 0.24 on 31 March 2026, with total borrowings of Rs 195.64 crore against a net worth of Rs 804.17 crore.
Risks
- The latest period is a stub. In the quarter ended 30 June 2026 total income was Rs 137.90 crore but profit after tax was only Rs 1.48 crore, against Rs 160.21 crore for the full FY2026. The KPIs stored on this page (ROE 0.18%, PAT margin 1.11%) are for that one quarter and are not annualised.
- The post-issue P/E is 540.98 at the upper band, based on a post-issue EPS of Rs 0.61 that the source annualises from the quarter ended 30 June 2026.
- Most of the issue is an offer for sale. Selling shareholders offer 1,56,82,750 shares worth Rs 517.53 crore of the Rs 668 crore issue, about 77%, and the company does not receive this money.
- Promoters Sandeep Sudhakar Asolkar with Priya Sandeep Asolkar, and Saketchandrasingh Pratapsingh Dhandoriya, are selling shares worth Rs 154.11 crore. Promoter and promoter group holding falls from 48.18% to 41.18% after the issue.
- Only Rs 117.15 crore of net proceeds is allocated to named objects: Rs 42.23 crore to repay borrowings of the company and its subsidiary Vasudha Waste Treatment Private Limited, and Rs 74.92 crore for working capital. The rest is for general corporate purposes.
- Total borrowings rose from Rs 83.71 crore on 31 March 2025 to Rs 195.64 crore on 31 March 2026 and Rs 204.77 crore on 30 June 2026.
- Revenue growth slowed to about 13% in FY2026 and profit after tax grew about 5%, so profit is growing slower than income.
- Repeat customers gave 91.98% of FY2026 revenue and customers include engineering, procurement and construction companies, municipal bodies and government-owned entities, so the business depends on a small set of buyer types.
Objects of the issue
- Prepayment of all or a portion of certain outstanding borrowings availed by Company and wholly owned Subsidiary, namely Vasudha Waste Treatment Pvt.Ltd.₹42.23 Cr
- Funding working capital requirements₹74.92 Cr
- General Corporate Purposes
Promoters and shareholding
Sandeep Sudhakar Asolkar, Priya Sandeep Asolkar, Prachiti Sandeep Asolkar and Saketchandrasingh Pratapsingh Dhandoriya
- Promoter holding, pre-issue
- 48.18%
- Promoter holding, post-issue
- 41.18%
Registrar, lead managers and documents
Company contact
The Ambience Court, Hi-Tech Business Park, 21st, Sector 19- D, Plot No. 2, Vashi, Navi Mumbai, Maharashtra, 400705
22 4482 2717
compliance@sfcenv.comSFC Environmental Technologies IPO: common questions
1.When does the SFC Environmental Technologies IPO open and close?
The SFC Environmental Technologies IPO opens on 27 Oct 2026 and closes on 29 Oct 2026.
2.What is the price band of the SFC Environmental Technologies IPO?
The price band is ₹313 – ₹330 per share, with a lot size of 45 shares and a minimum investment of ₹14,850.
3.What is the size of the SFC Environmental Technologies IPO?
The issue size is ₹668 Cr (Fresh capital cum OFS).
4.What is the GMP of the SFC Environmental Technologies IPO?
The last reported grey market premium is ₹0 per share as of 21 Oct 2026, 10:12 AM IST. GMP is unofficial and changes frequently.
5.When is the SFC Environmental Technologies IPO allotment?
The basis of allotment is expected on 30 Oct 2026. Allotment status can be checked with the registrar, MUFG Intime India Private Limited.
6.When will the SFC Environmental Technologies IPO list?
The shares are expected to list on 3 Nov 2026 on BSE, NSE.
7.Who is the lead manager of the SFC Environmental Technologies IPO?
The book running lead managers are JM Financial Ltd., Nuvama Wealth Management Ltd., IIFL Capital Services Limited, and the registrar is MUFG Intime India Private Limited.
8.What will the money raised in the SFC Environmental Technologies IPO be used for?
As stated in the offer document, the proceeds are for: Prepayment of all or a portion of certain outstanding borrowings availed by Company and wholly owned Subsidiary, namely Vasudha Waste Treatment Pvt.Ltd.; Funding working capital requirements; General Corporate Purposes.
9.How can my company launch an IPO like SFC Environmental Technologies?
Start with an IPO readiness assessment: eligibility for the Main Board, audited financials, governance, conversion to a public limited company and an indicative valuation. Be IPO Ready advises promoters through each step, from readiness to listing day.
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