The SFC Environmental Technologies IPO opens for subscription on 27 October 2026 and closes on 29 October. It has a fresh issue of ₹150 crore and an offer for sale of 1.56 crore shares, up from the 1.23 crore shares first proposed, as per Moneycontrol's reading of the red herring prospectus (RHP).
The price band has not been announced. The company is expected to declare it on 21 October, so lot size and the minimum investment are still unknown.
Key dates
| Event | Date |
|---|---|
| Anchor book | 26 October 2026 |
| IPO opens | 27 October 2026 |
| IPO closes | 29 October 2026 |
| Allotment (tentative) | 30 October 2026 |
| Listing on BSE and NSE | 3 November 2026 |
What is being sold?
The fresh issue brings money into the company. The offer for sale does not: those proceeds go to the selling shareholders, who include promoters Sandeep Sudhakar Asolkar and Saketchandrasingh Pratapsingh Dhandoriya. The OFS grew by about 27% from the draft stage, so a larger part of the issue is now existing holders selling.
Of the net fresh proceeds, ₹42.2 crore is meant to repay debt. The company's consolidated borrowings were ₹253.1 crore as of July 2026. Another ₹74.9 crore goes to working capital, and the rest to general corporate purposes.
What does the company do?
SFC Environmental, incorporated in 2005 and based in Maharashtra, makes wastewater treatment systems and also works in wastewater recycling and solid waste treatment. It says it holds over 80% of India's market for sequencing batch reactor (SBR) technology, a common method for treating sewage. Its order book was ₹641 crore in wastewater treatment, ₹561 crore in recycling and reuse, and ₹454.5 crore in solid waste treatment as of August 2026.
Revenue was ₹803.6 crore in the year to March 2026, up 15.2%. In the June 2026 quarter, revenue was ₹133.9 crore against ₹67.8 crore a year earlier. The company posted a profit of ₹1.5 crore that quarter, after a ₹1.3 crore loss in the same quarter last year. IIFL Capital Services, JM Financial and Nuvama Wealth Management manage the issue.
What our data shows
Of the 100 mainboard IPOs listed in 2026 so far, 66 opened above their issue price, and the median listing gain is 6.92%. On the last 10 mainboard listings, the final grey market premium was off by 11 percentage points on average. It overstated the gain five times and understated it five times. GMP is an unofficial dealer quote, not an exchange price, and none is available for this issue yet.
What happens next
Watch for the price band on 21 October and the anchor book on 26 October. SEBI cleared the draft in December 2025, and that approval is valid for 12 months, as Angel One reported. Track the issue on its IPO page, and see every open issue on our mainboard IPO list. The details here come from Moneycontrol's report; we will update once the price band is out.
