{"id":324909,"date":"2026-10-23T08:54:56","date_gmt":"2026-10-23T03:24:56","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=324909"},"modified":"2026-10-23T08:54:56","modified_gmt":"2026-10-23T03:24:56","slug":"sfc-environmental-technologies-initial-public-offering-review","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/","title":{"rendered":"SFC Environmental Technologies IPO Review: Key Details, Company Overview and Financials"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>SFC Environmental Technologies IPO price band Rs 313 to Rs 330. Opens 27 Oct, closes 29 Oct 2026. Issue size about Rs 668 Cr. Lists 3 Nov on BSE and NSE.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The SFC Environmental Technologies IPO is a Rs 668 crore issue (about Rs 150 crore fresh plus Rs 517.53 crore offer for sale) priced at Rs 313 to Rs 330 per share, open from 27 to 29 October 2026 on BSE and NSE. The company holds over 80 percent of India&#8217;s sequencing batch reactor wastewater market, and FY26 profit after tax rose 5 percent to Rs 160.21 crore. At the upper band the issue works out to about 20 times FY26 earnings by our arithmetic, but about 78 percent of the issue is an offer for sale, so most of the money goes to existing holders.<\/p>\n<\/p><\/div>\n<p>The SFC Environmental Technologies IPO is a bookbuilding issue of 2,02,28,204 equity shares of face value Rs 2, aggregating about Rs 668 crore at the upper band. It has a fresh issue of 45,45,454 shares (about Rs 150 crore) and an offer for sale of 1,56,82,750 shares (about Rs 517.53 crore) by promoters Sandeep Sudhakar Asolkar and Saketchandrasingh Pratapsingh Dhandoriya and several other holders. The issue opens on 27 October 2026 and closes on 29 October 2026. Allotment is expected on 30 October, and the shares are proposed to list on BSE and NSE on 3 November 2026.<\/p>\n<p>The price band is Rs 313 to Rs 330 per share with a lot size of 45 shares, so one lot needs Rs 14,850 at the upper band. Retail investors can bid up to 13 lots (585 shares, Rs 1,93,050), and small HNI bids run from 14 lots (630 shares, Rs 2,07,900) to 67 lots (Rs 9,94,950). Not more than 50 percent of the net offer is for qualified institutional buyers, at least 35 percent for retail investors and at least 15 percent for non-institutional investors.<\/p>\n<p>IIFL Capital Services Ltd., JM Financial Ltd. and Nuvama Wealth Management Ltd. are the book-running lead managers for the SFC Environmental Technologies issue, and MUFG Intime India Pvt. Ltd. is the registrar.<\/p>\n<p>For detailed information on the company&#8217;s business, financials, risk factors and the use of proceeds, investors should refer to the SFC Environmental Technologies Red Herring Prospectus (RHP) before making an investment decision.<\/p>\n<p style=\"margin-top:24px;\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Company_Overview\" title=\"Company Overview\">Company Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#IPO_Details\" title=\"IPO Details\">IPO Details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Industry_Context\" title=\"Industry Context\">Industry Context<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Business_Strengths\" title=\"Business Strengths\">Business Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Business_Risks\" title=\"Business Risks\">Business Risks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Financial_Performance\" title=\"Financial Performance\">Financial Performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#SFC_Environmental_Technologies_Ltd_%E2%80%93_Financials_Rs_in_Crore\" title=\"SFC Environmental Technologies Ltd. &#8211; Financials (Rs in Crore)\">SFC Environmental Technologies Ltd. &#8211; Financials (Rs in Crore)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Key_Ratios_and_Metrics\" title=\"Key Ratios and Metrics\">Key Ratios and Metrics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Objects_of_the_Offer\" title=\"Objects of the Offer\">Objects of the Offer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#When_does_the_SFC_Environmental_Technologies_IPO_open_and_close\" title=\"When does the SFC Environmental Technologies IPO open and close?\">When does the SFC Environmental Technologies IPO open and close?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#What_is_the_price_band_and_minimum_investment_for_the_SFC_Environmental_Technologies_IPO\" title=\"What is the price band and minimum investment for the SFC Environmental Technologies IPO?\">What is the price band and minimum investment for the SFC Environmental Technologies IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#What_does_SFC_Environmental_Technologies_do\" title=\"What does SFC Environmental Technologies do?\">What does SFC Environmental Technologies do?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Is_the_SFC_Environmental_Technologies_IPO_a_fresh_issue_or_an_offer_for_sale\" title=\"Is the SFC Environmental Technologies IPO a fresh issue or an offer for sale?\">Is the SFC Environmental Technologies IPO a fresh issue or an offer for sale?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#How_will_SFC_Environmental_Technologies_use_the_IPO_money\" title=\"How will SFC Environmental Technologies use the IPO money?\">How will SFC Environmental Technologies use the IPO money?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#How_has_SFC_Environmental_Technologies_performed_financially\" title=\"How has SFC Environmental Technologies performed financially?\">How has SFC Environmental Technologies performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Is_the_SFC_Environmental_Technologies_IPO_expensive\" title=\"Is the SFC Environmental Technologies IPO expensive?\">Is the SFC Environmental Technologies IPO expensive?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#What_are_the_main_risks_in_the_SFC_Environmental_Technologies_IPO\" title=\"What are the main risks in the SFC Environmental Technologies IPO?\">What are the main risks in the SFC Environmental Technologies IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Who_are_the_lead_managers_and_registrar_for_the_SFC_Environmental_Technologies_IPO\" title=\"Who are the lead managers and registrar for the SFC Environmental Technologies IPO?\">Who are the lead managers and registrar for the SFC Environmental Technologies IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/sfc-environmental-technologies-initial-public-offering-review\/#Is_the_SFC_Environmental_Technologies_IPO_a_good_investment\" title=\"Is the SFC Environmental Technologies IPO a good investment?\">Is the SFC Environmental Technologies IPO a good investment?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Company_Overview\"><\/span><strong>Company Overview<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Incorporated in 2005 and based in Navi Mumbai, SFC Environmental Technologies Limited provides environmental technology solutions in wastewater treatment, wastewater recycling and reuse, and solid waste treatment. Its wastewater business is built around its proprietary C-Tech sequencing batch reactor (SBR) technology, and it says it holds over 80 percent of the SBR market in India with 728 wastewater installations commissioned as of 31 July 2026.<\/p>\n<p>It has expanded into recycling and reuse using ultrafiltration, reverse osmosis and membrane bioreactor technologies, with an exclusive DuPont supply arrangement for selected products in India. Its solid waste business uses proprietary OREX technology to separate organic matter for biogas, with two facilities in Goa of up to 425 tonnes per day, and a subsidiary holds compressed biogas orders in Assam and Odisha worth Rs 501.7 crore. The company works across 23 states and five union territories, had 264 employees (149 engineers) at 31 August 2026, and earned 91.98 percent of FY26 revenue from repeat customers.<\/p>\n<p><em>Read on for the complete SFC Environmental Technologies IPO details, including dates, issue structure, listing timeline and the company&#8217;s financial track record.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"IPO_Details\"><\/span><strong>IPO Details<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Particulars<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Details<\/th>\n<\/tr>\n<tr>\n<td>IPO Date<\/td>\n<td>27 to 29 October 2026<\/td>\n<\/tr>\n<tr>\n<td>Allotment<\/td>\n<td>Fri, 30 October 2026 (tentative)<\/td>\n<\/tr>\n<tr>\n<td>Refunds and Demat Credit<\/td>\n<td>Mon, 2 November 2026 (tentative)<\/td>\n<\/tr>\n<tr>\n<td>Listing Date<\/td>\n<td>Tue, 3 November 2026 (tentative)<\/td>\n<\/tr>\n<tr>\n<td>Face Value<\/td>\n<td>Rs 2 per share<\/td>\n<\/tr>\n<tr>\n<td>Price Band<\/td>\n<td>Rs 313 to Rs 330<\/td>\n<\/tr>\n<tr>\n<td>Lot Size<\/td>\n<td>45 Shares<\/td>\n<\/tr>\n<tr>\n<td>Minimum Application (Retail)<\/td>\n<td>1 lot, 45 shares, Rs 14,850<\/td>\n<\/tr>\n<tr>\n<td>Maximum Application (Retail)<\/td>\n<td>13 lots, 585 shares, Rs 1,93,050<\/td>\n<\/tr>\n<tr>\n<td>Minimum Application (sNII)<\/td>\n<td>14 lots, 630 shares, Rs 2,07,900<\/td>\n<\/tr>\n<tr>\n<td>Issue Type<\/td>\n<td>Bookbuilding IPO<\/td>\n<\/tr>\n<tr>\n<td>Sale Type<\/td>\n<td>Fresh Issue and Offer for Sale<\/td>\n<\/tr>\n<tr>\n<td>Total Issue Size<\/td>\n<td>2,02,28,204 shares (agg. about Rs 668 Cr)<\/td>\n<\/tr>\n<tr>\n<td>Fresh Issue<\/td>\n<td>45,45,454 shares (agg. about Rs 150 Cr)<\/td>\n<\/tr>\n<tr>\n<td>Offer for Sale<\/td>\n<td>1,56,82,750 shares (agg. about Rs 517.53 Cr)<\/td>\n<\/tr>\n<tr>\n<td>Quota (QIB \/ NII \/ Retail)<\/td>\n<td>Not more than 50% \/ at least 15% \/ at least 35%<\/td>\n<\/tr>\n<tr>\n<td>Shares Outstanding (pre and post issue)<\/td>\n<td>9,34,11,270 and 9,79,56,724<\/td>\n<\/tr>\n<tr>\n<td>Promoter and Group Holding<\/td>\n<td>48.18% pre-issue; 41.18% post-issue (tracker)<\/td>\n<\/tr>\n<tr>\n<td>Market Cap at Upper Band<\/td>\n<td>About Rs 3,232.57 Cr post-issue (tracker)<\/td>\n<\/tr>\n<tr>\n<td>Listing Exchange<\/td>\n<td>BSE and NSE<\/td>\n<\/tr>\n<tr>\n<td>Lead Managers<\/td>\n<td>IIFL Capital Services, JM Financial, Nuvama Wealth<\/td>\n<\/tr>\n<tr>\n<td>Registrar<\/td>\n<td>MUFG Intime India<\/td>\n<\/tr>\n<\/table>\n<p><em>(Compiled from the DRHP\/RHP and market updates)<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Industry_Context\"><\/span><strong>Industry Context<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Stricter norms on wastewater discharge and solid waste handling in India push industries and municipalities to install treatment plants, which drives demand for specialist providers.<\/li>\n<li>Water reuse and recycling is growing as water scarcity rises, and industries are being asked to reuse treated water rather than draw fresh supply.<\/li>\n<li>Compressed biogas from organic waste is backed by government programmes, which creates long-term contracts for operators with the right technology.<\/li>\n<li>Project-based environmental businesses see uneven quarterly revenue, because plants are billed on milestones and commissioning dates.<\/li>\n<li>Investors usually track order book, repeat business, receivable days and the share of recurring operations and maintenance income.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Business_Strengths\"><\/span><strong>Business Strengths<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Here are the key strengths investors evaluating the SFC Environmental Technologies IPO should weigh:<\/p>\n<ul>\n<li>Technology leadership in wastewater treatment, with a claimed 80 percent plus share of India&#8217;s SBR market and 728 installations.<\/li>\n<li>High profitability: FY26 EBITDA of Rs 235.81 crore on total income of Rs 821.27 crore (a margin of about 29 percent) and profit after tax of Rs 160.21 crore, up from Rs 152.01 crore in FY25.<\/li>\n<li>A strong balance sheet, with net worth of Rs 804.17 crore at March 2026, return on equity of 21.55 percent and debt to equity of 0.24.<\/li>\n<li>Repeat customers gave 91.98 percent of FY26 revenue, and the company has expanded into recycling, reuse and solid waste with compressed biogas orders.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><strong>Screen environmental and water treatment stocks on the Univest Screener<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Business_Risks\"><\/span><strong>Business Risks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Alongside these strengths, the SFC Environmental Technologies issue also carries the following business risks:<\/p>\n<ul>\n<li>About 78 percent of the issue by value is an offer for sale (Rs 517.53 crore of Rs 668 crore), so most of the money goes to existing holders, and promoter holding falls from 48.18 percent to 41.18 percent.<\/li>\n<li>The June 2026 quarter was weak: profit after tax was only Rs 1.48 crore on income of Rs 137.90 crore. A tracker shows a post-issue P\/E of 541x on that annualised quarter, which we treat as a seasonal low and not a trend, but it shows how uneven quarterly results can be.<\/li>\n<li>Growth is slowing: FY26 total income rose about 13 percent and profit about 5 percent, and borrowings rose from Rs 83.71 crore at March 2025 to Rs 195.64 crore at March 2026.<\/li>\n<li>The company is project driven, so results depend on commissioning and billing timing, and a large part of future growth rests on newer solid waste and biogas projects.<\/li>\n<li>Valuation is not low on book value: the upper band is about 3.8 times book value (tracker). The RHP should be treated as the reference for risk factors.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Performance\"><\/span><strong>Financial Performance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The SFC Environmental Technologies IPO follows steady but slowing growth. Total income was Rs 676.74 crore in FY24, Rs 726.96 crore in FY25 and Rs 821.27 crore in FY26, while profit after tax was Rs 144.17 crore, Rs 152.01 crore and Rs 160.21 crore. In the quarter to June 2026, total income was Rs 137.90 crore and profit after tax was Rs 1.48 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SFC_Environmental_Technologies_Ltd_%E2%80%93_Financials_Rs_in_Crore\"><\/span><strong>SFC Environmental Technologies Ltd. &#8211; Financials (Rs in Crore)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Particulars<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Q1 FY27 (Jun 2026)<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2026<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2025<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2024<\/th>\n<\/tr>\n<tr>\n<td>Total Income<\/td>\n<td>137.90<\/td>\n<td>821.27<\/td>\n<td>726.96<\/td>\n<td>676.74<\/td>\n<\/tr>\n<tr>\n<td>EBITDA<\/td>\n<td>9.86<\/td>\n<td>235.81<\/td>\n<td>207.48<\/td>\n<td>193.25<\/td>\n<\/tr>\n<tr>\n<td>Profit After Tax (PAT)<\/td>\n<td>1.48<\/td>\n<td>160.21<\/td>\n<td>152.01<\/td>\n<td>144.17<\/td>\n<\/tr>\n<tr>\n<td>Net Worth<\/td>\n<td>805.49<\/td>\n<td>804.17<\/td>\n<td>648.68<\/td>\n<td>534.30<\/td>\n<\/tr>\n<tr>\n<td>Total Borrowings<\/td>\n<td>204.77<\/td>\n<td>195.64<\/td>\n<td>83.71<\/td>\n<td>139.16<\/td>\n<\/tr>\n<tr>\n<td>Total Assets<\/td>\n<td>1,224.56<\/td>\n<td>1,323.43<\/td>\n<td>999.47<\/td>\n<td>904.94<\/td>\n<\/tr>\n<\/table>\n<p><em>Amounts in Rs Crore, restated consolidated figures compiled from published SFC Environmental Technologies IPO disclosures and trackers.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Ratios_and_Metrics\"><\/span><strong>Key Ratios and Metrics<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below summarises the key ratios for the SFC Environmental Technologies issue as of FY26, as published by trackers, plus our own valuation arithmetic. The computed row is not an announced number.<\/p>\n<p><em>These ratios offer a quick snapshot of the profitability and balance sheet behind the SFC Environmental Technologies IPO.<\/em><\/p>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">KPI (FY26)<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Value<\/th>\n<\/tr>\n<tr>\n<td>Return on Equity (RoE)<\/td>\n<td>21.55%<\/td>\n<\/tr>\n<tr>\n<td>Return on Capital Employed (RoCE)<\/td>\n<td>22.21%<\/td>\n<\/tr>\n<tr>\n<td>EBITDA Margin<\/td>\n<td>29.34%<\/td>\n<\/tr>\n<tr>\n<td>PAT Margin<\/td>\n<td>19.94%<\/td>\n<\/tr>\n<tr>\n<td>Debt to Equity<\/td>\n<td>0.24<\/td>\n<\/tr>\n<tr>\n<td>Net Asset Value per Share<\/td>\n<td>Rs 86.09<\/td>\n<\/tr>\n<tr>\n<td>Earnings per Share (pre-issue)<\/td>\n<td>Rs 17.15<\/td>\n<\/tr>\n<tr>\n<td>Pre-Issue P\/E at Rs 330 (tracker)<\/td>\n<td>About 19.2x<\/td>\n<\/tr>\n<tr>\n<td>Post-Issue P\/E at Rs 330 on FY26 profit (computed)<\/td>\n<td>About 20.2x<\/td>\n<\/tr>\n<tr>\n<td>Price to Book (tracker)<\/td>\n<td>About 3.8x<\/td>\n<\/tr>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Objects_of_the_Offer\"><\/span><strong>Objects of the Offer<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The company proposes to use the net proceeds of the fresh issue in the SFC Environmental Technologies IPO towards the following objects.<\/p>\n<ul>\n<li>Prepayment of certain borrowings of the company and its wholly owned subsidiary, Vasudha Waste Treatment Pvt. Ltd. (Rs 42.23 Cr)<\/li>\n<li>Funding working capital requirements (Rs 74.92 Cr)<\/li>\n<li>General corporate purposes (balance of the fresh issue, about Rs 32.85 Cr computed before issue expenses)<\/li>\n<\/ul>\n<p>The offer for sale proceeds of about Rs 517.53 crore go to the selling shareholders, not to the company.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the Univest iOS App or Univest Android App to track the SFC Environmental Technologies IPO and get daily stock recommendations.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><em>Here is the bottom line on the SFC Environmental Technologies IPO.<\/em><\/p>\n<p>The SFC Environmental Technologies issue offers exposure to a technology-led wastewater and solid waste company with a dominant niche, strong margins and a clean balance sheet.<\/p>\n<p>The cautions are the large offer for sale, slowing growth, rising borrowings, uneven quarterly results and a valuation of about 20 times FY26 earnings that already reflects the quality.<\/p>\n<p>Overall, investors weighing the SFC Environmental Technologies issue should read the Red Herring Prospectus (RHP) for the order book and receivable days, judge how repeatable growth is beyond wastewater, and match the position size to their own risk profile.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data independently before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<p>Univest does not publish grey market premium figures. Grey market premium is an unofficial and unregulated indicator collected informally outside the stock exchanges. It is not published, verified or endorsed by SEBI, NSE or BSE, can vary widely between trackers, and is not always accurate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"When_does_the_SFC_Environmental_Technologies_IPO_open_and_close\"><\/span><strong>When does the SFC Environmental Technologies IPO open and close?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The SFC Environmental Technologies IPO opens for subscription on 27 October 2026 and closes on 29 October 2026. Allotment is expected on 30 October, and the shares are proposed to list on BSE and NSE on 3 November 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_price_band_and_minimum_investment_for_the_SFC_Environmental_Technologies_IPO\"><\/span><strong>What is the price band and minimum investment for the SFC Environmental Technologies IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The price band is Rs 313 to Rs 330 per share with a lot size of 45 shares. One lot needs Rs 14,850 at the upper band, retail investors can bid up to 13 lots (Rs 1,93,050), and small HNI bids start at 14 lots (Rs 2,07,900).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_SFC_Environmental_Technologies_do\"><\/span><strong>What does SFC Environmental Technologies do?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> SFC Environmental Technologies provides wastewater treatment, wastewater recycling and reuse, and solid waste treatment solutions. It says it holds over 80 percent of India&#8217;s sequencing batch reactor market and has commissioned 728 wastewater installations.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_SFC_Environmental_Technologies_IPO_a_fresh_issue_or_an_offer_for_sale\"><\/span><strong>Is the SFC Environmental Technologies IPO a fresh issue or an offer for sale?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It is both. The fresh issue is 45,45,454 shares (about Rs 150 crore) and the offer for sale is 1,56,82,750 shares (about Rs 517.53 crore), so most of the money goes to the selling shareholders.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_will_SFC_Environmental_Technologies_use_the_IPO_money\"><\/span><strong>How will SFC Environmental Technologies use the IPO money?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The company plans to use Rs 42.23 crore to prepay borrowings of itself and its subsidiary Vasudha Waste Treatment, and Rs 74.92 crore for working capital, with the balance for general corporate purposes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_SFC_Environmental_Technologies_performed_financially\"><\/span><strong>How has SFC Environmental Technologies performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Total income rose from Rs 726.96 crore in FY25 to Rs 821.27 crore in FY26, and profit after tax rose from Rs 152.01 crore to Rs 160.21 crore. The June 2026 quarter showed profit of Rs 1.48 crore on income of Rs 137.90 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_SFC_Environmental_Technologies_IPO_expensive\"><\/span><strong>Is the SFC Environmental Technologies IPO expensive?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> On our arithmetic, a market cap of about Rs 3,232.57 crore at Rs 330 and FY26 profit of Rs 160.21 crore give about 20 times earnings, and a tracker shows about 3.8 times book value. A tracker&#8217;s 541 times figure uses the annualised June 2026 quarter, which was unusually weak.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_main_risks_in_the_SFC_Environmental_Technologies_IPO\"><\/span><strong>What are the main risks in the SFC Environmental Technologies IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are a large offer for sale, slowing profit growth, borrowings that more than doubled in FY26, uneven quarterly results typical of project businesses, and dependence on newer solid waste projects.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_are_the_lead_managers_and_registrar_for_the_SFC_Environmental_Technologies_IPO\"><\/span><strong>Who are the lead managers and registrar for the SFC Environmental Technologies IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> IIFL Capital Services Ltd., JM Financial Ltd. and Nuvama Wealth Management Ltd. are the book-running lead managers, and MUFG Intime India Pvt. Ltd. is the registrar, handling allotment and the credit of shares to successful applicants&#8217; demat accounts.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_SFC_Environmental_Technologies_IPO_a_good_investment\"><\/span><strong>Is the SFC Environmental Technologies IPO a good investment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The SFC Environmental Technologies issue offers a strong niche, high margins and a clean balance sheet, but a large offer for sale and slowing growth call for caution. Read the prospectus, check the order book, and size the position to your own risk appetite before applying.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"When does the SFC Environmental Technologies IPO open and close?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The SFC Environmental Technologies IPO opens for subscription on 27 October 2026 and closes on 29 October 2026. Allotment is expected on 30 October, and the shares are proposed to list on BSE and NSE on 3 November 2026.\"}},{\"@type\":\"Question\",\"name\":\"What is the price band and minimum investment for the SFC Environmental Technologies IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The price band is Rs 313 to Rs 330 per share with a lot size of 45 shares. 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The company holds over 80 percent of India&#8217;s sequencing batch reacto<\/p>\n","protected":false},"author":29,"featured_media":324908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1281],"tags":[5351],"class_list":["post-324909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","tag-mainboard-ipo"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["324908"],"rank_math_title":["SFC Environmental Technologies IPO 2026: Price Band, Review"],"rank_math_description":["SFC Environmental Technologies IPO opens 27 to 29 October 2026 at Rs 313 to Rs 330. 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