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SFC Environmental Technologies Ltd IPO

Tech-led NBFC delivering AI/ML driven retail credit across Tier-2 & Tier-3 India.

Upcoming
Price Band ₹313 – ₹330 per share per share
Lot Size 45 Shares
Min. Investment ₹14850
Issue Size ₹640.87 – 667.53 Cr
Face Value ₹2
IPO Open 27 October 2026
IPO Close 29 October 2026
Allotment 30 Oct 2026
Listing 03 Nov 2026
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Key dates

IPO schedule for SFC Environmental Technologies Ltd

From the day bidding opens to listing — every milestone you need to track.

IPO Open 27 Oct 2026
IPO Close 29 Oct 2026
Allotment 30 Oct 2026
Refund / Unblock 02 Nov 2026
Listing 03 Nov 2026
About the company

Who is SFC Environmental Technologies Ltd ?

SFC Environmental Technologies is an environmental technology company offering efficient technologies and comprehensive engineering solutions in the field of wastewater treatment and solid waste treatment. The core operations include providing design, technology, manufacturing, supply and supervision for installation and commissioning of equipment for the treatment of wastewater. Additionally, Company offers technology solutions for SWT plants comprising of design, engineering, financing, construction, supply and installation, commissioning, performance run, turnkey solutions and operations and maintenance.

The principal technology for solid waste treatment is the Organic Extraction, designed to efficiently separate biodegradable organics from inorganic materials and lignocellulosic fibres from mixed municipal waste. The Company has designed, built and is operating two integrated SWT facilities in Goa for the Goa Waste Management Corporation (GWMC) on a

publicprivate partnership and turnkey model, with a combined treatment capacity of 350 tons per day (TPD), with an additional handling capacity of 75 TPD resulting in aggregate treatment capacity of up to 425 TPD, to treat municipal solid waste, enabling generation of biogas, compost and recovery of recyclables.

SFC Environmental Technologies Limited was incorporated as SFC Environmental Technologies Private Limited' at Mumbai, Maharashtra as a Private Limited Company dated March 29, 2005, issued by the RoC. Thereafter, the status converted from a Private Limited to Public Limited, and the name of the Company was changed to SFC Environmental Technologies Limited', and a fresh Certificate of Incorporation dated August 13, 2024 was issued to Company by the Registrar of Companies, Central Processing Centre.

In year 2008, Company acquired majority stake in SFC Umwelttechnik GmbH, Austria; acquired majority stake in Chavare Engineering Private Limited which provides electrical and automation solutions in 2011. The Company incorporated Hindustan Waste Treatment Private Limited in North Goa in 2014. It commenced operations in integrated MSW processing facility with capacity of 100 TPD North Goa facility under Hindustan Waste Treatment Private Limited in 2016. In 2022, the Company commenced decanter manufacturing unit in Pune. Fine Aeration Systems Private Limited was incorporated as a subsidiary in 2022 to enabling the manufacturing of diffusers in India. The Company further expanded the capacity of integrated MSW processing facility in North Goa from 100 TPD to 250 TPD in 2023. It further started production of 100 TPD capacity integrated MSW processing facility at South Goa, in 2023; further incorporated Pentagen Biofuels Private Limited as a subsidiary for agro-based CBG plants. In 2023, Company has strategically expanded portfolio by entering the agro-based biogas / compressed biogas projects.

The Company is planning an IPO by raising funds aggregating to Rs 185 Crore Fresh Issue of Equity Shares and by issuing 10,824,790 Equity Shares of Face Value of Rs 2 each thru' Offer for Sale.

Financial track record

Financials at a glance

Three-year trajectory of revenue, profit and assets — restated as per the RHP.

Revenue PAT Total Assets
FY 2026
FY 2025
FY 2024
Metric (₹ Cr)FY 2026FY 2025FY 2024
Total Income578.49505.34546.20
EBITDA208.03191.06196.12
PAT134.14129.57134.68
AUM1,082.52816.24741.14

Strengths & Risks

A balanced look at what works in the company's favour and what investors should watch.

Strengths

  • 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.

Risks

  • Our revenues and operations are dependent upon technology. Failure of these technologies, failure to upgrade or innovate these technologies or failure to identify and develop new technologies could have an adverse impact on our results of operations. Our products may be displaced by newer technology and any inability or failure to adapt to technological developments, the evolving competitive landscape or industry trends could harm our business and competitiveness.
  • We derive a substantial portion of our revenues from the WWT and SWT segments which together accounted for 88.22%, 84.98%, 84.34% and 87.40% of our consolidated revenue from operations in the three months period ended June 30, 2026, Fiscals 2026, 2025 and 2024, respectively. We are significantly dependent on projects, contracts or works awarded or funded by government entities, either directly or through our private customers. Our revenue from operations directly or indirectly attributable to government entities or government tenders represented 91.97%, 92.35%, 92.40% and 95.72% of our consolidated revenue from the WWT segment for the three months period ended June 30, 2026, Fiscals 2026, 2025 and 2024, respectively and 100.00% in the three months period ended June 30, 2026 and 100.00% of our consolidated revenue from SWT segment for each of the Fiscals 2026, 2025 and 2024. Any reduction or termination in such projects or adverse change in government policies could adversely affect our business, results of operations and financial condition.
  • We derive a significant part of our revenue from our top 10 customers and we do not have long term contracts with most of these customers. If one or more of such customers choose not to source their requirements from us or to terminate our long-term contracts, our business, results of operations and financial condition may be adversely affected.
  • Any failure to comply with trade restrictions such as economic sanctions and export controls or with antibribery and anti-corruption frameworks instituted by government authorities or international organizations, such as multilateral development banks, may restrict our ability to participate in projects, and could negatively impact our reputation and results of operations.
  • We have had negative cash flows from operating activities in the certain past periods / fiscals and may continue to have negative cash flows in the future.
  • Our business has grown, including our revenue from operations that has grown at a CAGR of 10.56% from Rs.6,574.95 million in Fiscal 2024 to Rs.8,036.29 million in Fiscal 2026, and we may fail to manage our growth effectively.
  • Certain of our corporate records and filings are not traceable or have certain discrepancies. We cannot assure you that regulatory proceedings or actions will not be initiated against us in the future and we will not be subject to any penalty imposed by the competent regulatory authority in this regard.
  • Our Company is involved in certain legal proceedings. Any adverse decision in such proceedings may render us liable to liabilities / penalties and may adversely affect our business, financial condition, results of operations and cash flows.
  • Our Subsidiaries, Hindustan Waste Treatment Private Limited, Vasudha Waste Treatment Private Limited, Fine Aeration Systems Private Limited and Pentagen Biofuels Private Limited, Sustainyx Smart Solution Private Limited (formerly Navitas Waste Treatment Private Limited) and SFC Umwelttechnik GmbH have availed unsecured loans from our Company that may be recalled at any time and the Subsidiaries may not have adequate funds to make timely payments or at all.
  • We have high working capital requirements, and may require additional financing to meet those requirements, which could have a material adverse effect on our results of operations, cash flows and financial condition. The working capital as a percentage of total revenue from operations was 561.06%, 65.19%, 63.51% and 39.94% for the three months period ended June 30, 2026 and Fiscals 2026, 2025 and 2024, respectively.

SFC Environmental Technologies Ltd IPO — frequently asked questions

The SFC Environmental Technologies Ltd IPO opens on 27 October 2026 and closes on 29 October 2026. Bidding is accepted from 10:00 AM on the open date until 5:00 PM on the close date. The IPO is available to all eligible investors including retail individual investors, non-institutional investors, and qualified institutional buyers.
The price band for SFC Environmental Technologies Ltd IPO is Rs 313 to Rs 330 per share. The lot size is 45 shares per lot, requiring a minimum investment of Rs 14850 at the upper price band. Investors must apply for a minimum of one lot and can apply for up to 45 lots as per SEBI guidelines.
You can apply for the SFC Environmental Technologies Ltd IPO through the Chola Securities app or web platform using UPI or ASBA. Log in to your account, navigate to the IPO section, select SFC Environmental Technologies Ltd from the open IPOs list, enter your bid quantity and price within the price band, and submit your application. You need an active demat account, a linked bank account, and a valid PAN to apply. Bidding closes on 29 October 2026 at 5:00 PM.
Allotment for SFC Environmental Technologies Ltd IPO is scheduled on 30 Oct 2026. Refunds or unblocking of funds for unsuccessful applicants will be processed on 02 Nov 2026. The shares are expected to list on 03 Nov 2026. You can check your allotment status on the Chola Securities IPO page or through the registrar's website using your PAN.
Chola Securities' research team has reviewed the SFC Environmental Technologies Ltd IPO based on the company's financials, business model, valuation, and sector outlook. The recommendation is available on this page. Investors are advised to read the full IPO note along with the company's Red Herring Prospectus before making an investment decision.
Yes, you can revise or withdraw your SFC Environmental Technologies Ltd IPO bid before the subscription window closes on 29 October 2026 at 5:00 PM. Revisions can include changing the quantity or price within the allowed price band. To withdraw, cancel your application through the platform before the closing time. Once the subscription period ends, no further changes are permitted.
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