The Retail Individual Investors (RIIs) category put in bids for 67,71,55,200 shares. The Non Institutional Investors (NIIs) category put in bids for 43,94,17,600 shares. The Qualified Institutional Buyers (QIBs) category put in bids for 19,45,47,200 shares.

The issue opened for bidding on 5 July 2024 and it closed on 9 July 2024. The price band of the IPO was fixed between Rs 78 to Rs 82 per share. The equity shares will list on NSE's SME platform.

The IPO comprised fresh issue of 53,16,800 equity shares and offer for sale (OFS) upto 9,36,000 shares by existing shareholders. The promoter and promoter group shareholding diluted to 72.99% from 99.99% pre-issue.

The company intends to use net proceeds for funding working capital requirements, capital expenditure requirements of the company towards purchase of new office equipments and general corporate purposes.

Ahead of the IPO, EFFWA Infra & Research (EIRL) on 4 July 2024, raised Rs 14.33 crore from anchor investors. The board allotted 17.48 lakh shares at Rs 82 per share to 7 anchor investors.

EFFWA Infra & Research is engaged in the business of engineering, consultancy, procurement, construction and integrated project management services in water pollution control, encompassing sewage and industrial effluent treatment, solid waste treatment and disposal, ventilation systems, hazardous waste management, and water treatment plants. company operates in the Domestic Market as well as International Market. As on 31 March 2024, the company has 118 employees.

The company recorded revenue from operations of Rs 145.15 crore and net profit of Rs 13.80 crore for the period as on 31 March 2024.