GEM Enviro IPO Details

GEM Enviro IPO Details/Company website

VoM News Desk | June 13, 2024 | 05:08 PM IST | Breaking News | Follow on Google News

GEM Enviro IPO Details

GEM Enviro IPO Details: An overview

• Company: GEM Enviro Management Ltd.
• Industry: Waste management, specializing in recycling all packaging waste, including plastic waste.
• IPO Size: ₹44.93 crore
• Type: SME IPO
• IPO Dates: Opens June 19, Closes June 21
• Listing Date: Tentative date is June 26
• Exchange: BSE SME

IPO Structure:

• Price Band: ₹71 to ₹75 per share
• Total Shares: Combination of fresh issue and offer for sale (OFS)
• Fresh Issue: 14.98 lakh equity shares, aggregating to ₹11.23 crore
• OFS: 44.93 lakh shares, aggregating to ₹33.70 crore

Lot Size and Investment:

• Lot Size: 1,600 shares
• Minimum Investment: ₹120,000 for retail investors

Promoters:

• Sachin Sharma
• Sangeeta Pareekh
• Dinesh Pareekh
• Sarthak Agarwal
• BLP Equity Research Private Limited

Post-IPO Promoter Shareholding:

• Will decrease from 100% to 73.44%

Use of Proceeds:

• Working Capital Requirements
• General Corporate Purposes

Financial Performance:

• FY23:
• Revenue: ₹42.80 crore
• Net Profit: ₹10.01 crore
• FY22:
• Revenue: ₹32.91 crore
• Net Profit: ₹7.45 crore
• Nine months ended December 2023:
• Revenue: ₹26.39 crore
• Net Profit: ₹8.40 crore

IPO Management:

• Lead Managers: Share India Capital Services Pvt Ltd and Fintellectual Corporate Advisors Pvt Ltd
• Registrar: Skyline Financial Services Pvt Ltd

Grey Market Premium (GMP):

• Current GMP: ₹25 per share
• Indicates trading at ₹100 per share in the grey market, a 33.33% premium to the upper issue price of ₹75 per share.

Summary:
GEM Enviro Management Ltd.’s IPO aims to raise ₹44.93 crore, with a price band set between ₹71 and ₹75 per share. The IPO opens on June 19 and closes on June 21, with a tentative listing date of June 26 on the BSE SME. The company plans to use the proceeds for working capital and corporate purposes. The IPO’s grey market premium suggests strong investor interest, with shares trading at a significant premium in the grey market.

Original Source: Mint

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.