SFC Environmental Technologies Limited is a Navi Mumbai-based environmental technology company specialising in wastewater treatment, wastewater recycling and reuse, and solid waste management. Incorporated in March 2005, the company provides technology, design, engineering, manufacturing, equipment supply, installation, commissioning and operations and maintenance (O&M) services for municipal and industrial projects.
The company operates through three core environmental business segments:
- Wastewater Treatment (WWT): Offers sewage treatment solutions using proprietary C-Tech (SBR) technology, with 728 installations and over 80% market share in India’s SBR segment as of July 2026.
- Wastewater Recycling & Reuse (WRR): Provides advanced water recycling solutions using UF, CCRO and MBR technologies, supported by an exclusive DuPont supply arrangement for selected membrane technologies in India.
- Solid Waste Treatment (SWT): Uses proprietary OREX technology to process municipal waste and recover biogas, compost and recyclables. Operates two Goa facilities with a combined capacity of up to 425 TPD and has secured CBG plant contracts in Assam and Odisha worth ₹501.70 crore.
Through its subsidiary Chavare Engineering Private Limited, the company manufactures electrical control panels and provides PLC/SCADA-based automation systems and turnkey electrical solutions.
The company’s wastewater treatment technologies have been delivered for installation across 23 Indian states and five Union Territories, with international installations in countries including Germany, the UK, Australia, China, Vietnam and Malaysia.
As of August 31, 2026, the company had an aggregate order book of approximately ₹1,656.64 crore across its three core environmental business segments.
As of August 31, 2026, the company had 264 employees, including 149 engineers, working across engineering, manufacturing, commissioning and other business functions.
SFC Environmental Technologies IPO – Details
| IPO Opening Date | 27 October 2026 |
| IPO Closing Date | 29 October 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,02,28,204 Shares Worth ₹667.53 Crore Fresh Issue: 45,45,454 Shares Worth ₹150.00 Crore Offer For Sale: 1,56,82,750 Shares Worth ₹517.53 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹313 – ₹330 per share |
| Market Lot | 45 Shares |
| Min Order | 45 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
SFC Environmental Technologies IPO – Date Schedule
| IPO Open Date | 27 October 2026 |
| IPO Close Date | 29 October 2026 |
| Basis of Allotment | 30 October 2026 |
| Initiation of Refund | 02 November 2026 |
| Credit of Shares to Demat Account | 02 November 2026 |
| IPO Listing Date | 03 November 2026 |
| Cut-off time for UPI mandate confirmation | 7 PM on October 29, 2026 |
SFC Environmental Technologies IPO – Lots Size & Price
| 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 |
Competitive Strength
- Technology driven market leadership as a key player in the wastewater treatment market.
- Vertical integration through constant innovation and use of technology.
- Well-positioned to capture market opportunities in the solid waste treatment segment.
- High proportion of repeat business with strong order book.
- Track record of consistent performance and strong financial profile.
- Proven management experience and leadership.
Company Promoters
- Sandeep Sudhakar Asolkar
- Priya Sandeep Asolkar
- Prachiti Sandeep Asolkar
- Saketchandrasingh Pratapsingh Dhandoriya
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹676.74 Cr | ₹485.70 Cr | ₹144.17 Cr | ₹139.16 Cr |
| 31 March 2025 | ₹726.96 Cr | ₹521.59 Cr | ₹152.01 Cr | ₹83.71 Cr |
| 31 March 2026 | ₹821.27 Cr | ₹610.53 Cr | ₹160.21 Cr | ₹195.64 Cr |
| 30 June 2026 | ₹137.90 Cr | ₹135.96 Cr | ₹1.48 Cr | ₹204.77 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) | Values (June 30, 2026) |
|---|---|---|
| ROE | 21.55% | 0.18% |
| ROCE | 22.21% | 0.72% |
| Debt/Equity | 0.24 | 0.25 |
| RoNW | 21.25% | 0.19% |
| PAT Margin | 19.94% | 1.11% |
| EBITDA Margin | 29.34% | 7.36% |
| NAV | 86.09 | 86.23 |
| Pre IPO | Post IPO | |
| EPS (₹) | 17.15 | 0.61 |
| P/E (x) | 19.24 | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| 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 |
| Funding working capital requirements. | ₹74.92 |
| General corporate purposes. |
SFC Environmental Technologies IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 2 | Thermax Limited | 52.01x |
| 2 | 2 | Praj Industries Limited | 220.77x |
| 3 | 1 | Ion Exchange (India) Limited | 31.34x |
✅Strengths
- Market Leadership with over 80% share in India’s SBR technology segment.
- Proprietary Technology through C-Tech and OREX solutions.
- Strong Order Book of ₹1,656.64 crore as of August 31, 2026.
- Repeat Customers contributed 91.98% of FY2026 revenue.
- Growth Potential in wastewater recycling and compressed biogas.
⚠️Risks
- Customer Concentration with top 10 customers contributing 64.44% of FY2026 revenue.
- Government Dependence on public infrastructure projects.
- Order Execution Risks from project delays or cancellations.
- Seasonality with 85.83% of FY2026 standalone WWT revenue generated in the second half.
- Concession Renewal Risk for solid waste treatment plants in Goa.
SFC Environmental Technologies IPO Promoter Holding
| Pre Issue Share Holding | 48.18% |
| Post Issue Share Holding | 41.18% |
SFC Environmental Technologies IPO Prospectus
Company Contact Information
| SFC Environmental Technologies Ltd. The Ambience Court, Hi-Tech Business Park, 21st Sector 19- D, Plot No. 2, Vashi, Navi Mumbai, Maharashtra, 400705 Phone: 22 4482 2717 Email: compliance@sfcenv.com Website: https://sfcenvironment.com/ |
SFC Environmental Technologies IPO Registrar
| MUFG Intime India Pvt. Ltd. Phone: 022-49186000 Email: sfcenvironmental.ipo@linkintime.co.in Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
SFC Environmental Technologies IPO Lead Manager(s)
| 1. JM Financial Limited 2. IIFL Capital Services Limited 3. Nuvama Wealth Management Limited |
SFC Environmental Technologies IPO FAQs
| What is the SFC Environmental Technologies IPO? SFC Environmental Technologies IPO is a main-board IPO. The issue is priced at ₹313 to ₹330 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the SFC Environmental Technologies IPO open? The IPO is to open on 27 October 2026 for QIB, NII, and Retail Investors. |
| What is SFC Environmental Technologies IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the SFC Environmental Technologies IPO Size? SFC Environmental Technologies IPO size is ₹667.53 Crore. |
| What are the SFC Environmental Technologies IPO Minimum and maximum lot sizes for Retail? The minimum bid is 45 Shares with ₹14,850, while the maximum bid is 585 Shares with ₹1,93,050. |
| What is the SFC Environmental Technologies IPO Allotment Date? SFC Environmental Technologies IPO allotment date is 30 October 2026. |
| What is the SFC Environmental Technologies IPO Listing Date? SFC Environmental Technologies IPO listing date is 03 November 2026. The IPO is to be listed on the BSE and the NSE. |
