GEM Enviro IPO price band set at ₹71 - 75 per share; SME IPO to open on June 19

GEM Enviro IPO opens for subscription on June 18 and closes on June 21.

13 June 2024

GEM Enviro IPO price band is set at ₹71 to ₹75 per share. At the upper end of the price band, GEM Enviro Management IPO size is ₹44.93 crore.

GEM Enviro IPO price band set at ₹71 - 75 per share; SME IPO to open on June 19

GEM Enviro IPO: GEM Enviro Management Ltd, a waste management company, plans to go public with the launch of its initial public offering (IPO) worth ₹44.93 crore. GEM Enviro IPO is an SME IPO and is set to hit the street on June 19.

The bidding for GEM Enviro IPO closes for subscription on June 21 and the IPO allotment is expected to be finalized on June 24.

GEM Enviro IPO price band is set at ₹71 to ₹75 per share. At the upper end of the price band, GEM Enviro Management IPO size is ₹44.93 crore. The book-built issue is a combination of fresh issue of 14.98 lakh equity shares aggregating to ₹11.23 crore and offer for sale (OFS) of 44.93 lakh shares aggregating to ₹33.70 crore.

GEM Enviro IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹120,000. The equity shares of GEM Enviro Management will list on BSE SME with tentative listing date fixed as June 26.

The company plans to utilise the net issue proceeds to meet working capital requirements and for general corporate purposes.

Sachin Sharma, Sangeeta Pareekh, Dinesh Pareekh, Sarthak Agarwal, and BLP Equity Research Private Limited are the promoters of GEM Enviro Management Ltd. The promoter shareholding in the company will come down to 73.44% after the IPO from 100% at present.

GEM Enviro Management is a waste management company which specialises in recycling all packaging waste, including plastic waste.

Share India Capital Services Pvt Ltd and Fintellectual Corporate Advisors Pvt Ltd are the book running lead managers of the GEM Enviro IPO, while Skyline Financial Services Pvt Ltd is the IPO registrar.

GEM Enviro Management reported a net profit of ₹10.01 crore upon a revenue of ₹42.80 crore in FY23 as against a net profit of ₹7.45 crore and revenue of ₹32.91 crore in FY22.

For the nine months ended December 2023, the company posted a net profit of ₹8.40 crore and revenue of ₹26.39 crore.

GEM Enviro IPO GMP Today

GEM Enviro IPO GMP today, or grey market premium today, is ₹25 per share, according to stock market observers. This indicates that GEM Enviro shares were trading higher by ₹25 at ₹100 apiece in the grey market, a premium of 33.33% to the issue price of ₹75 per share.

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