The SFC Environmental Technologies IPO listed today: shares opened at ₹355.10 on the NSE on 3 November 2026. That is 7.61% above the issue price of ₹330.
Before the open, the grey market was pointing to +4.70%. The shares opened +7.61%.
What did one lot do at the open?
One lot of 45 shares was worth ₹15,980 at the opening price, which is a gain of ₹1,130 on paper. The listing was at a premium to the issue price. Real profit or loss depends on the price at which you sell, which can move a lot through the day. The first day often swings more than later ones, because the stock has no trading history yet and the opening price is set in a special pre-open session.
How did the grey market call it?
The last grey market quote before listing was ₹15.50 (4.70%), which pointed to ₹345.50. The open was ₹9.60 above that level. Here is how the quote moved in the days before.
| Date | GMP (₹) | Implied gain |
|---|---|---|
| 28 Oct | 10 | 3.03% |
| 29 Oct | 19 | 5.76% |
| 30 Oct | 20 | 6.06% |
| 31 Oct | 23.5 | 7.12% |
| 1 Nov | 26 | 7.88% |
| 2 Nov | 18 | 5.45% |
The SFC Environmental Technologies IPO GMP peaked at ₹26 on 1 November and eased to ₹18 on 2 November. GMP is an unofficial grey market number, not an exchange price.
What our data shows
Demand was lower than for a typical IPO this year, when half of all mainboard issues got over 21 times. The last GMP of ₹18 pointed to about 5.5% over the issue price.
How strong was the demand?
The issue closed at 9.47 times. QIBs bid 18.81 times, NII 12.81 times and retail 2.71 times.
| Category | Subscribed (times) |
|---|---|
| QIB | 18.81 |
| NII (HNI) | 12.81 |
| Retail | 2.71 |
| Total | 9.47 |
Our final-day subscription post has the full story.
What does the company do?
SFC Environmental Technologies, set up in 2005, builds systems for wastewater treatment and recycling and for solid waste treatment. It had commissioned 728 wastewater installations by 31 July 2026.
| Financial year | Total income (₹ crore) | Profit after tax (₹ crore) |
|---|---|---|
| FY2024 | 676.74 | 144.17 |
| FY2025 | 726.96 | 152.01 |
| FY2026 | 821.27 | 160.21 |
The ₹667.53 crore issue mixed fresh shares with an offer for sale (OFS). Of the fresh money, ₹42.23 crore is for repaying loans and ₹74.92 crore is for working capital. Promoters held 45.24% before the issue and hold 38.37% after it.
What happens next?
Refunds and demat credit were done on 2 November, so allotted shares are in demat accounts. Past listings and how they fared are on our IPO performance page. Lock-in dates for anchor investors will follow in a separate post.
