GEM Enviro's Initial Public Offering (IPO) will be available for subscription on Wednesday, June 19, 2024. This is a book-built issue aimed at raising Rs 44.93 crore, which includes a fresh issue of 1.49 million shares worth Rs 11.23 crores and an offer for sale of approximately 4.49 million shares for Rs 33.70 crores.
The net proceeds of the IPO will be utilized to meet working capital requirements and for other business purposes.
Here are the important dates for GEM Enviro's IPO
The GEM Enviro IPO subscription period began today, June 19, 2024, and will end on June 21, 2024. Share allotments are expected to be finalized by Monday, June 24, 2024. The IPO will be placed on BSE SME, with a tentative listing date of Wednesday, June 26, 2024.
GEM Enviro IPO Price Ranges and Lot Size
The price band for the GEM Enviro IPO is Rs 71 to Rs 75 per share. The minimum lot size for application is 1600 shares, which requires a minimum investment of Rs 120,000 from regular investors. High Net Worth Individuals (HNIs) can apply for a minimum of two lots (3,200 shares), totaling Rs 240,000.
GEM Enviro IPO, GMP
According to IPO information platform Chittorgarh IPO, GEM Enviro's latest grey market premium (GMP) is Rs 62. With a price band of Rs 75, the IPO's predicted listing price is Rs 137, representing an 82.67 percent gain per share.
GEM Enviro's IPO Financials
GEM Enviro's income increased by 30.05 percent to Rs 42.8 crore in FY23, up from Rs 32.9 crore in FY22. Its profit after tax (PAT) increased by 34.43% to Rs 10 crore in FY23, from Rs 7.4 crore in FY22.
GEM Enviro IPO Share Allocation
The company has reserved up to 50% of its shares for Qualified Institutional Buyers (QIBs), at least 35% for retail buyers, and at least 15% for Non-Institutional Investors (NIIs).
GEM Enviro IPO Leads Book Runners
Share India Capital Services Private Limited and Fintellectual Corporate Advisors Private Limited are the bookrunners for the GEM Enviro IPO. Skyline Financial Services Private Ltd will serve as the registrant, with Share India Securities as the market maker.
GEM Enviro specializes in waste management and recycles all sorts of packaging trash, including plastic. The company, founded in February 2013, collects and recycles industrial plastic waste and sells recovered products.
Following its IPO, GEM Enviro is expected to have earnings per share of Rs 4.97 and a price-to-earnings multiple of 15.09x.
