Enviro Infra Engineers board approved a proposed change in the objects and utilisation terms of its Initial Public Offering proceeds on August 21, 2026, subject to shareholder approval.

The board meeting, held under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, commenced at 4:00 pm and concluded at 4:20 pm. The proposed variation also includes a modification of the time limit for utilisation of IPO proceeds. The company stated that further details will be provided in the explanatory statement attached to the notice for shareholder approval.

Key change: funds redirected to Varanasi STP subsidiaries

The primary proposed change involves the creation of a new allocation category. Funds totalling ₹4,445.57 lakhs are proposed to be directed toward infusion into two subsidiaries, Varanasi DDU Nagar STP Private Limited and Varanasi Lohta STP Private Limited, to build a 45 MLD STP and a 60 MLD STP respectively, followed by an Operation and Maintenance period of 15 years on a Hybrid Annuity Model basis under the Namami Gange Programme. The revised timeline for this utilisation is up to March 31, 2027.

This new allocation is sourced from two existing heads: ₹4,319.25 lakhs reallocated from the "Funding inorganic growth through unidentified acquisitions" head, and ₹126.32 lakhs reallocated from the "Issue Expenses" head.

Revised IPO proceeds utilisation breakdown

The table below sets out the proposed variation in detail. The total IPO proceeds allocation remains unchanged at ₹57,234.96 lakhs.

Note: The total amount to be used for General Corporate Purposes will not exceed 25% of the gross proceeds of the IPO, i.e., ₹14,308.00 lakhs.

Regulatory note on exit offer

The company noted that it has utilised more than 75% of the IPO proceeds toward the objects of the IPO. As a result, the conditions for applicability of the exit offer under Regulation 59 read with Schedule XX of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, do not apply to this proposed variation.

Enviro Infra Engineers Ltd disclosed that its step-down subsidiary, Suyog Urja Limited, incorporated a wholly owned subsidiary named Wind Earth Private Limited on August 19, 2026. The move aligns with the company's broader strategy in the energy sector, targeting renewable power generation through wind, hydro, and biomass resources.

The incorporation was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Master Circular dated January 30, 2026. Piyush Jain, Company Secretary and Compliance Officer of Enviro Infra Engineers Ltd, signed the disclosure filed with the National Stock Exchange of India Limited and BSE Limited.

Entity details

Wind Earth Private Limited is registered in India with an authorized capital of ₹5,00,000, divided into 50,000 equity shares of ₹10 each. The consideration for the subscription was cash.

Business scope

The newly incorporated entity plans to undertake business activities related to the generation, transmission, and distribution of electricity using both non-conventional and conventional resources. Key operational areas include:

• Setting up wind power, hydropower, biogas, and biomass gasification projects in India and abroad.
• Establishing wind parks at potential sites for wind power generation.
• Facilitating potential investors by offering necessary services for setting up wind power turbines.

No governmental or regulatory approvals were required for the incorporation of the entity, as per the disclosure.