Newsletter
Vishwaraj Environment has filed its draft papers for IPO with SEBI and aims to raise ₹2,250 crore.
The company is a developer of water utilities and wastewater management projects in India with a strong focus on treating sewage water for industrial use.
The deets: the company’s IPO consists of fresh issue worth ₹1,250 crore and offer-for-sale of ₹1,000 crore. It aims to utilise fresh proceeds to repay debts and finance multiple new projects and facilities along with general corporate expenses.
Zoom out: India’s wastewater management market is growing at a steady rate of 12.48% and is expected to reach a valuation of $1,660.5 million by 2033. Combining its two-decade long industry experience and extensive portfolio, the company can earn a major market share post-IPO.
