SFC Environmental Technologies IPO

The SFC Environmental Technologies mainboard IPO runs from 27 Oct 2026 to 29 Oct 2026, offered at an issue price of ₹330 per share, and is set to list on NSE and BSE. The company is looking to raise ₹667.53 crore through the offer. Retail investors bid in lots of 45 shares.

Issue structure

The IPO is structured entirely as a fresh issue of ₹150 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward funding working capital requirements (₹74.92 crore), alongside prepayment of all or a portion of certain outstanding borrowings availed by company and wholly owned subsidiary, namely vasudha waste treatment pvt.ltd. (₹42.23 crore). In all, 3 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, SFC Environmental Technologies reported revenue of ₹137.9 crore and a net profit of ₹1.48 crore. Revenue declined from ₹676.74 crore in FY2024 to ₹137.9 crore in FY2026 (-80.0%). Net worth stood at ₹805.49 crore at the end of FY2026. At the upper band, that puts the issue at roughly 19.2× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Peer comparison

The offer document names listed peers including Ion Exchange India Ltd. and Praj Industries Ltd., with a median peer P/E of about 52×.

Promoters

The promoters of the company are <p>Sandeep Sudhakar Asolkar, Priya Sandeep Asolkar, Prachiti Sandeep Asolkar, Saketchandrasingh Pratapsingh Dhandoriya</p>. Promoter holding is 48.18% before the issue.

Grey market premium (GMP)

In the unofficial grey market, SFC Environmental Technologies shares are quoted at a premium of ₹0 implying an expected listing around ₹330. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

What to weigh

When evaluating the SFC Environmental Technologies IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About SFC Environmental Technologies

SFC Environmental Technologies Limited provides advanced technologies and integrated engineering solutions for wastewater treatment (WWT), wastewater recycling and reuse (WRR), and solid waste treatment (SWT). Its services cover the design, engineering, manufacturing, supply, installation supervision, and commissioning of wastewater treatment systems and related equipment. The company's wastewater treatment technologies have a reported treatment capacity of approximately 14,812.86 million litres per day (MLD). In the solid waste treatment segment, it offers end-to-end solutions encompassing design, engineering, financing, construction, equipment supply, installation, commissioning, performance testing, turnkey project execution, and operations and maintenance (O&amp;M). For solid waste processing, the company has developed Organic Extraction (OREX), a proprietary technology designed to separate biodegradable organic matter from inorganic materials and lignocellulosic fibres in mixed municipal waste. This technology supports the efficient processing and recovery of useful components from municipal solid waste. The company's wastewater treatment portfolio includes its proprietary C-Tech Cyclic Activated Sludge Technology, which is based on the Sequencing Batch Reactor (SBR) process. This technology is designed to treat domestic sewage and industrial wastewater efficiently, offering advantages such as high treatment performance, lower life-cycle costs, operational simplicity, and space-efficient plant design. Its business activities are primarily organised around wastewater treatment, wastewater treatment business solutions, and solid waste treatment. SFC Environmental Technologies Limited primarily operates on a business-to-business (B2B) model, catering to institutional, infrastructure, municipal, and industrial customers. The company has reported commissioning approximately 639 C-Tech systems, with different disclosures indicating installations ranging from 621 to 639 systems in its wastewater treatment business. Its technologies have been associated with wastewater treatment capacities exceeding 15,000 MLD, and the company has reported an approximately 80% market share in India's SBR-based wastewater treatment technology segment. Its wastewater treatment customers include Enviro Control Private Limited, Vishvaraj Environment Private Limited, Khilari Infrastructure Private Limited, SMC Infrastructures Private Limited, Rajkamal Builders Infrastructure Private Limited, Ramky Infrastructure Private Limited, GVPR Engineers Limited, HNB Engineers Private Limited, and Gharpure Engineering &amp; Constructions Private Limited, among others. These customers contribute substantially to revenue generated from the wastewater treatment business. Competitive Strengths Technology-led market position: The company benefits from specialised wastewater treatment technologies and an established presence in the SBR-based treatment segment. Technology integration and continuous innovation: Its focus on developing and improving proprietary technologies supports operational efficiency and strengthens its engineering capabilities. Repeat business and order book visibility: Established customer relationships, repeat orders, and a strong order book support business continuity and revenue visibility. Experienced management team: The company draws on management expertise and industry experience to execute projects and develop its environmental technology business.