- Summary
- SFC Environmental Technologies IPO is a book-built mainboard issue of ₹667.53 crores, offering fresh shares and an OFS, that opens on 27 October 2026.
- Investors can bid at ₹313.00/share–₹330.00/share, with 1 lot comprising 45 shares.
- SFC Environmental Technologies provides engineering solutions for wastewater treatment, wastewater recycling and reuse and solid waste treatment, with proprietary technologies and a growing order book.
SFC Environmental Technologies IPO is a book-built issue of ₹667.53 crores. The issue combines a fresh issue of 0.45 crore shares worth ₹150.00 crores and an offer-for-sale of 1.57 crore shares of ₹517.53 crores.
SFC Environmental Technologies IPO subscription opens on 27 October 2026 and closes on 29 October 2026. The allotment for the SFC Environmental Technologies IPO is tentatively finalised on 30 October 2026. The IPO will list on the NSE and BSE with a tentative listing date fixed as 3 November 2026.
SFC Environmental Technologies IPO is set at a price band of ₹313.00/share to ₹330.00/share. The per-application lot size is 45 shares. The minimum amount of investment required by an individual (retail) investor is ₹14,850 for 45 shares, based on the upper price.
SFC Environmental Technologies IPO–Key Details
The table below discusses the key SFC Environmental Technologies IPO details:
| IPO Open | 27 October 2026 |
| IPO Close | 29 October 2026 |
| Face value | ₹2.00/share |
| Price Band | ₹313.00/share to ₹330.00/share |
| Issue price | – |
| IPO Lot Size | 45 shares |
| Offer-for-sale | 1,56,82,750 Equity Shares (up to ₹518.00 crore) |
| Fresh issue | 45,45,454 Equity Shares (₹150.00 crore) |
| Issue Type | Mainboard/Bookbuilt IPO |
| Listing | NSE and BSE |
| Total Issue Size (₹ Crore) | ₹667.53 crore (2,02,28,204 Equity Shares) |
| Minimum Investment (Retail) | ₹14,850.00 (45 shares x upper band) |
SFC Environmental Technologies IPO–Timeline
Here is the complete SFC Environmental Technologies IPO schedule:
| Bid Open Date | 27 October 2026 |
| Bid Close Date | 29 October 2026 |
| Allotment | 30 October 2026 |
| Refunds Initiated | 2 November 2026 |
| Share Credit Date | 2 November 2026 |
| Listing | 3 November 2026 |
| UPI mandate Cut-off time | 29 October 2026 (5 PM) |
SFC Environmental Technologies Limited–Key Performance Indicators (KPIs)
The following are the SFC Environmental Technologies Limited KPIs:
| KPIs | 2026 | 2025 | 2024 |
| ROE (%) | 21.55 | 24.84 | 29.80 |
| ROCE (%) | 22.21 | 29.29 | 28.56 |
| Debt-Equity Ratio (in times) | 0.05 | (0.08) | (0.09) |
| RoNW (%) | 21.25 | 24.36 | 30.46 |
| PAT Margin (%) | 19.94 | 21.78 | 21.93 |
| Operating EBITDA Margin (%) | 29.34 | 29.73 | 29.39 |
| Price-Book Value | 3.83 | – | – |
SFC Environmental Technologies Limited–Financial Information
| 2026 | 2025 | 2024 | |
| Revenue | 803.63 | 697.86 | 657.50 |
| Assets | 1,323.43 | 999.47 | 904.94 |
| Profit/Loss After Tax | 160.21 | 152.01 | 144.17 |
SFC Environmental Technologies IPO–Subscription Status
Subscription status unavailable!
To be updated once bidding opens.
You can apply between 10:00 AM and 5:00 PM on the issue days.
SFC Environmental Technologies IPO–Grey Premium Market (GMP)
The SFC Environmental Technologies IPO GMP is currently ₹31.00, as updated on 22 October 2026, 12:02 PM IST.
With ₹330.00 as the upper price band of the issue, the listing price is estimated at ₹361.00, which implies a gain of 9.39% per share.
| GMP Date | GMP | Est. Listing Price on upper price-₹330.00 | Est. Profit* | Trend |
| 24-Oct 12:37 | ₹21 (6.36%) ─ | ₹351 | ₹945 | Stable |
| 23-Oct 23:37 | ₹21 (6.36%) ─ | ₹351 | ₹945 | Stable |
| 22-Oct 23:37 | ₹21 (6.36%) ▼ | ₹351 | ₹945 | Stable |
| 21-Oct 23:37 | ₹31 (9.39%) ─ | ₹361 | ₹1,395 | Initial |
Disclaimer: The GMP is an unofficial metric and is indicative only. It fluctuates based on market conditions, buyer sentiment and overall IPO subscription demand.
SFC Environmental Technologies IPO–Reservation
The SFC Environmental Technologies IPO shares reservation across investor categories is stated below:
| Investor Classification | % Allocation |
| QIBs | Maximum 50% |
| NIIs | Minimum 15% |
| Retail Investors | Minimum 35% |
| Total | 100% |
SFC Environmental Technologies IPO–Lot Size
The application and investment details for the SFC Environmental Technologies IPO are below:
| Application | Lot Size | Shares | Amount |
| Retail Minimum Application | 1 | 45 | ₹14,850 |
| Retail Maximum Application | 13 | 585 | ₹1,93,050 |
| S-HNI Minimum Application | 14 | 630 | ₹2,07,900 |
| S-HNI Maximum Application | 67 | 3015 | ₹9,94,950 |
| B-HNI Minimum Application | 68 | 3060 | ₹10,09,800 |
SFC Environmental Technologies IPO–Anchor Investors Details
The anchor investor details for the SFC Environmental Technologies IPO are as follows:
| Bidding opens on | 26 October 2026 |
SFC Environmental Technologies IPO–Prospectus
Refer to the official offer documents for further details:
About SFC Environmental Technologies Limited
Incorporation: 29 March 2005
Chairman and Managing Director: Sandeep Sudhakar Asolkar
SFC Environmental Technologies Limited is an environmental technology company that provides engineering solutions for wastewater treatment, wastewater recycling and reuse and solid waste treatment. Its operations span technology design, equipment manufacturing and supply, plant installation, commissioning and operations and maintenance.
The company uses proprietary technologies such as C-Tech for wastewater treatment and OREX for solid waste treatment. As of 31 July 2026, it had commissioned 728 wastewater treatment installations, with its technology facilitating a treatment capacity of 17,511.11 million litres per day (MLD).
Its key business segments include:
- Wastewater Treatment (WWT): Provides SBR-based wastewater treatment solutions through its proprietary C-Tech technology, along with blowers, filters and sludge-drying systems.
- Wastewater Recycling and Reuse (WRR): Offers ultrafiltration, closed-circuit reverse osmosis and membrane bioreactor solutions to support wastewater recycling and reuse.
- Solid Waste Treatment (SWT): Uses its proprietary OREX technology to process municipal solid waste and supports the generation of biogas, electricity and compost, alongside the recovery of recyclable materials.
| Book Running Lead Manager (BRLM) | IIFL Capital Services Limited |
| JM Financial Limited | |
| Nuvama Wealth Management Limited | |
| Registrar | MUFG Intime India Private Limited |
Objectives of SFC Environmental Technologies Limited
The proceeds from the SFC Environmental Technologies IPO are planned to be utilised for the following purposes:
| Particulars | Amount (in ₹ crores) |
| Prepayment of outstanding borrowings availed by the Company and its Subsidiary | 42.23 |
| Working capital requirements | 74.92 |
| General corporate purposes | – |
SFC Environmental Technologies Limited–Strengths
- Market Leadership in Wastewater Treatment: The company, the first technology provider to introduce C-Tech SBR technology in India, with 728 commissioned wastewater treatment installations, holds over 80% market share in India’s SBR technology segment as of 31 July 2026.
- Technology and Manufacturing Capabilities: Its proprietary C-Tech and OREX technologies, in-house manufacturing capabilities and strategic technology partnerships support innovation, operational efficiency and reduced dependence on third-party suppliers.
- Diversified Business and Growth Opportunities: The company operates across wastewater treatment, wastewater recycling and reuse and solid waste treatment, with compressed biogas projects and a growing order book supporting its expansion.
- Strong Performance: As on 31 August 2026, the company’s total order book stood at ₹1,656.64 crore. Its revenue and PAT margin increased at a CAGR of 10.56% and 5.42%, respectively, from FY24 to FY26.
SFC Environmental Technologies Limited–Risks
- Dependence on Technology: The business operations of the company depend on its C-Tech, OREX and other treatment technologies. The failure in innovation, technological disruptions or the emergence of competing alternatives could affect its competitiveness and financial performance.
- Negative Operating Cash Flows: The company has reported negative operating cash flows of ₹21.34 crore in Q1 FY27 and ₹25.80 crore in FY26. A continued cash flow volatility could affect its liquidity and ability to meet financial obligations.
- Pending Legal Proceedings: The company also has legal proceedings before various courts, tribunals and government authorities. Any adverse rulings could result in additional liabilities, penalties and provisions and affect its operations and reputation.
- Unsecured Loans to Subsidiaries: The company has provided unsecured loans of ₹172.49 crore to its subsidiaries, which are repayable on demand. If repayment is sought, subsidiaries may face funding constraints and could affect the cash flows and financial condition of the company.
SFC Environmental Technologies IPO–Review
The company reported consistent revenue and profit growth, with revenue from operations rising to ₹803.63 crore in FY26 from ₹657.50 crore in FY24. Its PAT margin, however, declined from 21.93% to 19.94% during the same period, while operating cash flow is negative at ₹25.80 crore in FY26.
With the upper price band of the issue at ₹330, the IPO implies a P/E multiple of approximately 19.98 times based on FY26 EPS of ₹16.52. The company’s market position in wastewater treatment, proprietary technologies and presence across wastewater recycling and solid waste treatment provide growth opportunities, although its dependence on technological advancements and project execution remains a consideration.
The company primarily plans to utilise its fresh issue proceeds as working capital requirements and debt repayment, rather than direct expansion. This makes improvements in cash flow management and execution efficiency important for future growth.
Further, while its established position in SBR wastewater treatment and total order book support its growth prospects, negative operating cash flows and potential project delays are key risks that investors should assess.
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SFC Environmental Technologies IPO FAQs
SFC Environmental Technologies IPO is a book-built mainboard issue of ₹667.53 crore, comprising a fresh issue of ₹150.00 crore and an offer-for-sale of ₹517.53 crore. The price band is ₹313.00/share to ₹330.00/share and the IPO opens on 27 October 2026.
You can apply for the SFC Environmental Technologies IPO through the UPI facility or ASBA available through your bank account. Bids can be placed during the subscription period from 27 to 29 October 2026.
The company has an established position in wastewater treatment, proprietary technologies and operations across three environmental technology segments. However, declining PAT margins, negative operating cash flows in certain periods, technology dependence and project execution risks warrant consideration.
Based on the latest GMP of ₹31 and the upper price band of ₹330 per share, the estimated listing price is ₹361. This indicates a potential gain of 9.39%. The GMP is unofficial and may change before listing.
The SFC Environmental Technologies IPO opens for subscription on 27 October 2026 and closes on 29 October 2026.
The SFC Environmental Technologies IPO lot size is 45 shares. At the upper price band of ₹330/share, one retail lot requires an investment of ₹14,850.
The SFC Environmental Technologies IPO allotment is tentatively scheduled for 30 October 2026. The refunds and credit of shares are expected on 2 November 2026.
The SFC Environmental Technologies IPO is scheduled to list on NSE and BSE on 3 November 2026.
