The SFC Environmental Technologies IPO subscription status is final: the ₹668 crore issue closed on 29 October 2026 at 9.47x overall. Among the categories, institutional buyers (QIBs) bid the hardest. Our tracker saw the final book at 5:11 PM.
How did each category bid?
| Category | Times subscribed |
|---|---|
| QIB (institutional buyers) | 18.81x |
| NII (non-institutional), total | 12.81x |
| bNII (bids above ₹10 lakh) | 14.49x |
| sNII (bids of ₹2–10 lakh) | 9.43x |
| Retail | 2.7x |
| Total | 9.47x |
QIBs are institutions such as mutual funds. NII covers bids above ₹2 lakh, with bNII above ₹10 lakh and sNII below it.
What does this mean for retail investors?
Retail investors bid 2.7x their quota. If a category gets more bids than shares, allotment is by lottery. If it falls short, the portion is not fully covered and the unsold shares are handled under the offer rules.
What our data shows
A typical mainboard IPO this year got about 21 times, going by the 110 issues that have closed. The GMP of this issue fell from ₹32 on 25 October to ₹6 on 29 October.
The latest GMP is ₹17 (5.15%). It is a dealer quote from the grey market, not a price set by an exchange, so it may move before 3 November.
About the issue
The price band is ₹313–330 and one lot is 45 shares. That is ₹14,850 at the upper band. About ₹518 crore of the issue is an offer for sale, so that part does not go to the company.
The fresh issue is meant for three things. Some of it repays loans of the company and a subsidiary, some funds working capital, and the rest is general corporate purposes. IIFL Capital, JM Financial and Nuvama are the lead managers. MUFG Intime is the registrar.
SFC Environmental builds systems for wastewater treatment and solid waste treatment. In FY2026 it had total income of ₹821 crore and profit after tax of ₹160 crore. Profit for the quarter ended 30 June 2026 was only ₹1.48 crore, so read the full-year numbers with that in mind.
We wrote about the dates and structure when bidding began, in our SFC Environmental IPO opening story.
What happens next?
The basis of allotment is due on 30 October. Refunds and demat credit follow on 2 November. Shares are set to list on BSE and NSE on 3 November.
Track the numbers on the SFC Environmental IPO page and compare other issues on our live subscription table.
