SFC Environmental Technologies, a Navi Mumbai-based wastewater treatment solutions provider, has fixed the price band for its initial public offering at ₹313-330 per share for public subscription on October 27, 2026. According to the latest reports, the issue will close on October 29, 2026, with the company seeking to raise ₹667.5 crore through the IPO. The price band was announced on October 21, 2026, while the anchor book for institutional investors will open for one day on October 26, 2026. Investors can bid for a minimum of 45 equity shares and in multiples thereafter, with the minimum investment for retail investors set at ₹14,850 and maximum at ₹1,93,050. The company's equity shares are proposed to be listed on BSE and NSE on November 3, 2026.
Five institutional investors have collectively acquired a 2.95% stake in SFC Environmental Technologies from promoters ahead of the IPO launch. According to the company's notice to investors on October 24, Abakkus Flexi Edge Fund-1, Abakkus Growth Fund-Open Ended, and Carnelian Asset Management & Advisors acquired 13.63 lakh equity shares for ₹45 crore and 6.96 lakh shares for ₹23 crore respectively on October 22. Additionally, Neo Prime Fund, IIFL-Late Stage Private Equity Fund, and Nabs Equity purchased smaller stakes totaling ₹3 crore on October 23. Following these transactions, promoter Sandeep Sudhakar Asolkar's shareholding reduced to 18.61% from 19.36%, while Asolkar Tradecraft's stake decreased to 3.12% from 5.33% after selling shares worth ₹91 crore.
The company aims to raise ₹667.5 crore through a combination of fresh issue and offer for sale, with the IPO comprising a fresh issue of ₹150 crore and an offer for sale (OFS) of 1.56 crore equity shares worth ₹517.5 crore. As reported by the company, the OFS size has been increased from the earlier proposed 1.23 crore equity shares. The IPO includes fresh issue of ₹150 crore and OFS of 1.56 crore equity shares by promoters and other selling shareholders. At the upper end of the price band, the company is seeking a valuation of ₹3,233 crore. The 50% of the offer size has been reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 35% for retail individual investors. Proceeds from the fresh issue will be used for debt repayment and working capital requirements.
Incorporated in 2005, SFC Environmental Technologies provides technologies and engineering solutions for wastewater treatment, wastewater recycling and reuse, and solid waste treatment. According to the company's latest order book data as of August 2026, it maintains strong positions across all segments: ₹641 crore in wastewater treatment, ₹561 crore in wastewater recycling and reuse, and ₹454.5 crore in solid waste treatment. The company has commissioned 728 installations in the wastewater treatment segment, particularly in sewage treatment plants, and claims to command more than 80 percent of India's sequencing batch reactor (SBR) technology market. In the first quarter of FY27, wastewater treatment contributed 48 percent of the company's revenue, while solid waste treatment accounted for 40 percent, with the wastewater recycling and reuse segment not contributing to revenue during the quarter. The company specialises in wastewater treatment solutions using proprietary technologies, including C-Tech, an advanced technology for treating sewage and effluents. Its customers include SMC Infrastructures, Rajkamal Builders Infrastructure, Ramky Infrastructure, EMS and Enviro Infra Engineers.
On the financial front, SFC Environmental Technologies reported a profit of ₹1.5 crore in the quarter ended June 2026, compared with a loss of ₹1.3 crore in the corresponding quarter of the previous fiscal year. Revenue nearly doubled to ₹133.9 crore in the first quarter of the current fiscal year, from ₹67.8 crore in the same period a year earlier. For the fiscal year ended March 2026, the company's profit increased 7.2 percent to ₹154.4 crore, while revenue rose 15.2 percent to ₹803.6 crore compared with the previous fiscal year. The company's revenue composition shows wastewater treatment contributing 67%, solid waste treatment 17%, and wastewater recycling and reuse 2% to its total revenue in FY26.
Of the net proceeds from the fresh issue, ₹42.2 crore will be used to repay debt, against total consolidated borrowings of ₹253.1 crore as of July 2026. A further ₹74.9 crore will be allocated towards working capital requirements, with the remaining proceeds earmarked for general corporate purposes. The company is expected to finalise the share allotment on October 30, 2026, while its shares are scheduled to list on the stock exchanges on November 3, 2026. IIFL Capital Services, JM Financial, and Nuvama Wealth Management are the merchant bankers managing the IPO, while MUFG Intime India is the registrar.
