Namo eWaste Management IPO To Open On 4th September, Sets Price Band At Rs 80 to Rs 85 Per Share

The proceeds of the issue will be utilized to fund the capital requirements of its subsidiary, i.e. Techeco Waste Management LLP, towards setting up a new factory unit at Nashik, funding to meet working capital requirements and general corporate purposes.

On Monday, September 9, 2024, the shares for the Namo eWaste Management IPO are anticipated to be allotted, and on Tuesday, September 10, 2024, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.

Retail investors need to contribute a minimum of Rs 1.36 lakh, considering the minimum lot size for an application is 1600 shares. For HNIs, the minimum bidding size is two lots, or 3200 shares, for a total investment of Rs 2.72 lakh at the upper price band.

Namo eWaste Management Limited’s revenue increased by 73%, and profit after tax (PAT) rose by 183% between the financial year ending with March 31, 2024 and March 31, 2023.

Namo eWaste Management provides comprehensive services for the recycling of Electrical and Electronic Equipment (EEE) such as air conditioners, refrigerators, laptops, phones, washing machines, fans, etc.

The company’s service portfolio includes Electronics recycling, Refurbishment, and Extended producer responsibility (EPR) services. The company has leased a factory in Faridabad, Haryana, India, with an area of 2566 square meters, and a storage and dismantling unit in Palwal, Haryana, India, with an area of 16,010 square meters.

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