SFC Environmental Technologies IPO
UPCOMINGMAINBOARDUpcoming Issue
Size TBA
Opens
27 Oct 2026
Fresh / OFS
₹150.00 Cr / —
- Price Band
- TBA
- Lot Size
- TBA
- Lot Value
- TBA
- Open Date
- 27 Oct27 Oct 2026
- Close Date
- 29 Oct29 Oct 2026
About SFC Environmental Technologies
SFC Environmental Technologies is an environmental technology company offering efficient technologies and comprehensive engineering solutions in wastewater treatment, wastewater recycling & reuse, and solid waste treatment.
Derives revenue from WWT and SWT segments through project-based engineering solutions and technology services for infrastructure and government customers.
Use of IPO Proceeds
Promoters
Sandeep Sudhakar Asolkar
Chairman and Managing Director · age 57
Pre-issue: 14.45%
Priya Sandeep Asolkar
Promoter · age 57
Previously worked with Development Consultants Limited, Sterling Engineering Consultancy Services Private Limited, N. N. Purandare Consultants and Atlanta Construction Co.
Bachelor's degree in engineering (civil) from Sardar Patel College of Engineering, University of Bombay
Pre-issue: 19.36%
Saketchandrasingh Pratapsingh Dhandoriya
Executive Director
Pre-issue: 9.03%
Prachiti Sandeep Asolkar
Executive Director
Investment Analysis
Quick Analysis: 5 strengths · 6 risk factors· Exchange: Equity
Strengths (5)
- •Strong order book visibility with WWT and SWT segments showing significant order backlogs
- •Close EPC player collaboration reducing project delays and cancellation risks
- •Proprietary OREX technology providing differentiated environmental solutions
- •Revenue concentration from government and infrastructure projects providing stable customer base
- •Inventory management and standard interchangeable products reducing project risk exposure
Risk Factors (6)
- •First public issue with no formal market history for equity shares; offer price may not reflect actual post-listing trading price.
- •Significant accounting differences exist between Ind AS, U.S. GAAP, and IFRS that may materially affect investor assessment of financial condition.
- •Non-GAAP measures like Operating EBITDA and ROCE are supplemental metrics not comparable across companies or calculated by standard methodology.
- •Industry data derived from commissioned F&S Report involves risks and assumptions subject to change based on various factors.
- •Investments in equity securities involve degree of risk; investors may lose entire investment if unable to afford such risk.
- •Forward-looking statements contain risks where actual results could materially differ from those anticipated in those statements.
GMP Trend
GMP data will appear a few days before the IPO opens.
Investor Quota
Subscription Status
Subscription data will appear once bidding begins.
Weigh your chances
IPO Timeline
Issue Opens
27 Oct 2026 · Tue
Issue Closes
29 Oct 2026 · Thu
Bidding Cut-off (UPI Mandate)
29 Oct 2026 · 5:00 PM IST
Allotment
30 Oct 2026 · Fri
Listing
03 Nov 2026 · Tue
Issue Opens
27 Oct 2026 · Tue
Issue Closes
29 Oct 2026 · Thu
Bidding Cut-off (UPI Mandate)
29 Oct 2026 · 5:00 PM IST
Allotment
30 Oct 2026 · Fri
Listing
03 Nov 2026 · Tue
IPO Details
| Registrar | — |
| Exchange | Equity |
| ISIN | — |
| Face Value | — |
| Issue Size | — |
| Fresh Issue | ₹150.00 Cr |
| OFS Size | — |
| Lead Managers | — |
3-Year Financial Summary
Revenue trend
↑ FY24→FY26
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY26 | 803.63 | 154.36 | 16.52 | — | — |
| FY25 | 697.86 | 144.06 | 15.42 | — | — |
| FY24 | 657.5 | 141.61 | 15.16 | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 | FY26 |
|---|---|---|---|
| EBITDA | 193.55 | 207.73 | 233.93 |
| Total Assets | 904.94 | 999.47 | 1,323.43 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
—
Price ÷ EPS
EPS (FY26)
₹17
Earnings per share
RoNW
—
Return on net worth
ROCE
—
Not in abridged DRHP
EBITDA margin
29.1%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
Check the valuation yourself
Company Fundamentals
13 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | — |
| Paid-up Capital | — |
| Equity Shares (Pre-Issue) | 9,34,11,270 |
| Equity Shares (Post-Issue) | — |
Source: SFC Environmental Technologies offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in SFC Environmental Technologies's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in SFC Environmental Technologies's filing.
Source: SFC Environmental Technologies offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB50.00%
- NII / HNI15.00%
- Retail35.00%
OFS Selling Shareholders
- Sandeep Sudhakar Asolkar (held jointly with Priya Sandeep Asolkar)9,34,000 sh
- Saketchandrasingh Pratapsingh Dhandoriya37,36,000 sh
- Sarvesh Kumar Garg35,65,000 sh
- Sandeep Sambhaji Parab21,36,000 sh
- Rajesh Kesavan Nambisan21,36,000 sh
- Kumaraguru Madurakavi21,36,000 sh
- Veera Venkata Satyanarayana Yannamani9,33,000 sh
- Jayshree Harit Shah (held jointly with Harit Pragji Shah)70,000 sh
- Hardik Suresh Matalia36,750 sh
Source: SFC Environmental Technologies offer document (DRHP/RHP).
Board & Management
Board of Directors (4)
- Sandeep Sudhakar Asolkar₹3.30 Cr p.a.
Chairman and Managing Director
Appointed as Chairman and Managing Director on October 27, 2023
- Saketchandrasingh Pratapsingh Dhandoriya₹1.18 Cr p.a.
Executive Director
Appointed as additional Executive Director on September 5, 2024
- Prachiti Sandeep Asolkar₹0.61 Cr p.a.
Executive Director
Appointed as additional executive director on March 24, 2026
- Neha Rajen Gada₹0.02 Cr p.a.
Non-Executive Independent Director
Appointed as additional non-executive independent director on August 14, 2024
Key Managerial Personnel (3)
- Mandar Dinkar Desai₹1.44 Cr p.a.
Chief Executive Officer
Bachelor's degree and master's degree in engineering (civil branch) from University of Mumbai
Associated with the Company since January 15, 2010. Oversees all technical and operational functions. Over 14 years of experience in environmental engineering sector.
- Amit Anil Sawant₹0.56 Cr p.a.
Chief Financial Officer
Fellow member of the Institute of Chartered Accountants of India
Associated with the Company since November 11, 2023. Handles finance and accounts. Approximately four years of experience in finance sector.
- Shweta Deshpande₹0.13 Cr p.a.
Company Secretary and Compliance Officer
Bachelor's degree in commerce and law from Dr. Babasaheb Ambedkar Marathwada University, Aurangabad; associate member of ICSI; diploma in taxation laws
Associated with the Company since March 9, 2023. Handles legal and compliance. Over five years of experience in secretarial and statutory compliances sector.
Source: SFC Environmental Technologies offer document (DRHP/RHP).
Industry & Market
Per Industry Report on Indian STP, Tertiary Treatment, MSW Management, and Biogas Market by Frost & Sullivan, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| SFC Environmental Technologies Limited | — | 16.52 | 21.25 | 86.09 |
| Thermax Limited | 52.01 | 63.95 | 13.74 | 492.55 |
| Praj Industries Limited | 220.77 | 1.3 | 1.77 | 71.22 |
| Ion Exchange (India) Limited | 31.34 | 12.03 | 11.2 | 91.3 |
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Criminal | Subsidiaries | 2 | 2.586 |
| Environmental | Subsidiaries | 10 | — |
| Civil | Subsidiaries | 2 | 66.687 |
| Tax | Company | 14 | 3.214 |
| Tax | Subsidiaries | 5 | 0.024 |
Legal notice threatening criminal action for harassment and defamation; FIR for alleged effluent discharge Show cause notices from pollution control boards and waste management corporation for alleged effluent discharge, waste disposal violations Suit for liquidated damages for technical deficiencies in sewage treatment plant supply; labour claims by former managing directors 12 direct tax cases and 2 indirect tax cases involving the company 4 direct tax cases and 1 indirect tax case involving subsidiaries
Documents
Frequently Asked Questions
When is the SFC Environmental Technologies IPO opening?
The SFC Environmental Technologies IPO opens on 27 Oct 2026 and closes on 29 Oct 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the SFC Environmental Technologies IPO?
The price band for the SFC Environmental Technologies IPO is not yet announced. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the SFC Environmental Technologies IPO?
The lot size and minimum investment for the SFC Environmental Technologies IPO have not been announced yet. They are set when the price band is announced.
What is the GMP of SFC Environmental Technologies IPO today?
Grey Market Premium data for SFC Environmental Technologies is not available yet. It typically starts appearing a few days before the IPO opens.
When will the SFC Environmental Technologies IPO list on NSE and BSE?
The SFC Environmental Technologies IPO is expected to list on 03 Nov 2026 on Equity. Actual listing day trading begins at the start of the normal market session.
How can I check the SFC Environmental Technologies IPO allotment status?
You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the SFC Environmental Technologies IPO a mainboard or SME issue?
SFC Environmental Technologies is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the SFC Environmental Technologies IPO?
You can apply for the SFC Environmental Technologies IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
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