Unlisted shares of Namo eWaste Management Ltd are trading Rs 50 higher in the grey market, signalling a 58.82 per cent listing gain from the public issue.
Namo eWaste Management IPO: The initial public offer of Namo eWaste Management Ltd, which will be closed today at 5:00 pm, has received a strong response from investors. The price band of the SME IPO has been fixed at Rs 80-Rs 85 per share. Till 10:08 am on the second day of bidding on Friday, the Rs 51.20-crore IPO received a 33.45 times subscription garnering bids for 14,41,13,600 shares as against the 43,08,800 shares on offer.
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The category for non-institutional investors received 25.69 times subscription, while the portion for retail individual investors (RIIs) got subscribed 50.37 times. The QIB category got 9.01 times subscription.
The IPO was opened for public subscription on September 4. The share allotment is likely to take place on September 9, while the listing will happen on September 11.
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Namo eWaste Management IPO GMP Today
According to market observers, unlisted shares of Namo eWaste Management Ltd are trading Rs 50 higher in the grey market than its issue price. The Rs 50 grey market premium or GMP means the grey market is expecting a 58.82 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Namo eWaste Management IPO: More Details
The Namo eWaste Management IPO is entirely a fresh issue of 60.24 lakh shares.
Namo eWaste Management IPO price band is set at ₹80 to ₹85 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹136,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹272,000.
Namo eWaste Management Limited, which was founded in 2014, offers services for the collection, disposal, and recycling of e-waste.
Hem Securities Limited is the book running lead manager of the Namo eWaste Management IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Namo eWaste Management IPO is Hem Finlease.
Namo eWaste Management Ltd’s revenue increased 73 per cent and profit after tax (PAT) rose by 183 per cent in the financial year 2023-24.
