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To be declared

Tue, Oct 27, 2026

IPO Close

Thu, Oct 29, 2026

Price Band

₹313 to ₹330

Market Cap

₹3,232.57 Cr * on Upper Price

  • IPO Date
    27 to 29 Oct, 2026
  • Listing Date
    Tue, Nov 3, 2026 (T)
  • Face Value
    ₹2 per share
  • Price Band
    ₹313 to ₹330
  • Lot Size
    45 Shares
  • Sale Type
    Fresh capital cum OFS
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE, NSE
  • Total Issue Size
    2,02,28,204 shares (agg. up to ₹668 Cr)
  • Fresh Issue
    45,45,454 shares (agg. up to ₹150 Cr)
  • Offer for Sale
    1,56,82,750 shares of ₹2 (agg. up to ₹518 Cr)
  • Share Holding Pre Issue
    9,34,11,270 shares
  • Share Holding Post Issue
    9,79,56,724 shares

IPO Timetable (Tentative)

  • IPO Open
    Tue, Oct 27, 2026
  • Allotment
    Fri, Oct 30, 2026
  • Credit of Shares
    Mon, Nov 2, 2026
  • IPO Close
    Thu, Oct 29, 2026
  • Refund
    Mon, Nov 2, 2026
  • Listing
    Tue, Nov 3, 2026

Issue Reservation

Investor Category Shares
QIB Not more than 50% of the Net Offer
Retail Not less than 35% of the Net Offer
NII Not less than 15% of the Net Offer

IPO Lot Size

Investors can bid for a minimum of 45 shares and in multiples thereof.

Application Lots Shares Amount
Retail (Min) 1 45 ₹14,850
Retail (Max) 13 585 ₹1,93,050
S-HNI (Min) 14 630 ₹2,07,900
S-HNI (Max) 67 3015 ₹9,94,950
B-HNI (Min) 68 3060 ₹10,09,800

About SFC Environmental Technologies Ltd.

Incorporated in March 2005, SFC Environmental Technologies Limited is an environmental technology company engaged in providing technology, design, engineering, manufacturing, supply, installation and commissioning solutions for wastewater treatment (“WWT”), wastewater recycling and reuse (“WRR”), and solid waste treatment (“SWT”). The Company’s wastewater treatment business is primarily based on its proprietary C-Tech technology, an advanced sequencing batch reactor (“SBR”) process used in sewage treatment plants and industrial effluent treatment. Its solutions include technology packages, equipment, automation systems, installation, commissioning and related services. As of July 31, 2026, the Company had commissioned 728 wastewater treatment installations and its technologies facilitated the treatment of 17,511.11 million litres of wastewater per day. It has also expanded into wastewater recycling and reuse through ultrafiltration (“UF”), closed circuit reverse osmosis (“CCRO”) and membrane bioreactor (“MBR”) technologies, supported by an exclusive supply arrangement with DuPont for selected products in India.

The Company’s solid waste treatment business is based on its proprietary Organic Extraction (“OREX”) technology, designed to separate biodegradable organic matter from mixed municipal waste to support biogas generation and resource recovery. It provides end-to-end solutions covering design, engineering, construction, equipment supply, commissioning and operations and maintenance. The Company operates two integrated solid waste treatment facilities in Goa with an aggregate treatment capacity of up to 425 tonnes per day. Through its subsidiary, it has also secured orders for compressed biogas plants in Assam and Odisha, with cumulative order value of ₹5,017 million, and has expanded into projects involving agricultural waste and biomass.

The Company operates across 23 states and five Union Territories in India, with a business model involving technology supply, engineering solutions, project execution and operations and maintenance. Its customer relationships include engineering, procurement and construction companies, municipal bodies and government-owned entities. The Company’s growth strategy includes expanding its wastewater recycling and reuse capabilities and pursuing opportunities in solid waste treatment, compressed biogas and waste-to-energy projects.

As of August 31, 2026, the Company had 264 employees, including 149 engineers, supported by teams across design and engineering, electrical and instrumentation, erection and commissioning, manufacturing, proposals, sales, finance and other functions.

Competitive Strengths

  • Technology-Driven Market Leadership: Strong position in wastewater treatment, supported by proprietary C-Tech technology and over 80% market share in SBR technology in India.
  • Integrated Technology and Engineering Capabilities: Comprehensive solutions across design, engineering, equipment supply, installation, commissioning and operations and maintenance.
  • Established Presence in Wastewater Recycling and Reuse: Expansion into UF, CCRO and MBR technologies, supported by an exclusive supply arrangement with DuPont for selected products in India.
  • Proprietary Solid Waste Treatment Technology: OREX technology enables organic waste separation, biogas generation and recovery of recyclable resources.
  • Strong Order Book and Repeat Business: High repeat-customer revenue, contributing 91.98% of revenue in Fiscal 2026, alongside significant orders in wastewater recycling and compressed biogas projects.
  • Diversified Growth Opportunities: Presence across wastewater treatment, wastewater recycling and reuse, solid waste treatment, compressed biogas and waste-to-energy projects.

Company Financials (Restated Consolidated)

SFC Environmental Technologies Ltd.’s revenue increased by 13% and profit after tax (PAT) rose by 5% between the financial year ending with March 31, 2026 and March 31, 2025.    (Amount in ₹ Crore)

Period Ended 30 Jun 2026 31 Mar 2026 31 Mar 2025 31 Mar 2024
Assets 1,224.56 1,323.43 999.47 904.94
Total Income 137.90 821.27 726.96 676.74
Profit After Tax 1.48 160.21 152.01 144.17
EBITDA 9.86 235.81 207.48 193.25
NET Worth 805.49 804.17 648.68 534.30
Reserves and Surplus 784.14 782.63 628.54 526.41
Total Borrowing 204.77 195.64 83.71 139.16

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • 1 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
  • 2 Funding working capital requirements
    74.92
  • 3 General Corporate Purposes
  • Total
    117.15

Key Performance Indicator (KPI)

KPI Jun 30, 2026 Mar 31, 2026
ROE 0.18% 21.55%
ROCE 0.72% 22.21%
Debt/Equity 0.25 0.24
RoNW 0.19% 21.25%
PAT Margin 1.11% 19.94%
EBITDA Margin 7.36% 29.34%
NAV 86.23 86.09
P/B (x) 3.83

IPO Valuation

Valuation Metric Pre IPO Post IPO
EPS (₹) 17.15 0.61
P/E (x) 19.24 540.98
Market Cap at Offer Price ₹3,082.57 Cr. ₹3,232.57 Cr.
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2026 available in RHP.

Shareholding Structure

Category Pre IPO Post IPO
Promoter and Promoter Group 48.18% 41.18%
Public 51.82% 58.82%
Total 100% 100%

Company Promoters: Sandeep Sudhakar Asolkar, Priya Sandeep Asolkar, Prachiti Sandeep Asolkar and Saketchandrasingh Pratapsingh Dhandoriya.

Offer For Sale – Selling Shareholders

Name Category No. of Shares Offered Amount (₹ cr.)
Sandeep Sudhakar Asolkar jointly with Priya Sandeep Asolkar Promoter 9,34,000 30.82
Saketchandrasingh Pratapsingh Dhandoriya Promoter 37,36,000 123.29
Sarvesh Kumar Garg Other 35,65,000 117.65
Sandeep Sambhaji Parab Other 21,36,000 70.49
Rajesh Kesavan Nambisan Other 21,36,000 70.49

SFC Environmental Technologies IPO Recommendations

Review By Subscribe May Apply Neutral Avoid
Brokers 0 0 0 0
Members 0 0 0 0

IPO Registrar

MUFG Intime India Pvt.Ltd.

  • 022-49186000
  • sfcenvironmental.ipo@linkintime.co.in
  • Visit Website

IPO Lead Manager(s)

  1. IIFL Capital Services Ltd.
  2. JM Financial Ltd.
  3. Nuvama Wealth Management Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

SFC Environmental Technologies Ltd. Address
The Ambience Court, Hi-Tech Business Park, 21st
Sector 19- D,
Plot No. 2, Vashi,
Navi Mumbai, Maharashtra, 400705

IPO FAQs

SFC Environmental Technologies IPO is a main-board IPO of 2,02,28,204 equity shares of the face value of ₹2 aggregating up to ₹668 Crores. The issue is priced at ₹313 to ₹330. The minimum order quantity is 45.

The IPO opens on Tue, Oct 27, 2026, and closes on Thu, Oct 29, 2026.

MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Angel One customers can apply online in SFC Environmental Technologies IPO using UPI as a payment gateway. Angel One customers can apply in SFC Environmental Technologies IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in SFC Environmental Technologies IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘SFC Environmental Technologies IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The SFC Environmental Technologies IPO opens on Tue, Oct 27, 2026 and closes on Thu, Oct 29, 2026.

SFC Environmental Technologies IPO lot size is 45, and the minimum amount required for application is ₹14,850.

You can apply in SFC Environmental Technologies IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for SFC Environmental Technologies IPO will be done on Friday, October 30, 2026, and the allotted shares will be credited to your demat account by Mon, Nov 2, 2026. Check the SFC Environmental Technologies IPO allotment status.

The SFC Environmental Technologies IPO listing date is not yet announced. The tentative date of listing is Tue, Nov 3, 2026.

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