Namo eWaste Management Limited is a leader in sustainable and efficient electronic waste management in India. Established to promote environmentally friendly e-Recycling solutions, Namo eWaste is committed to zero waste discharge technology, making it one of the most sustainable eWaste facilities in the country.

IPO Structure and Subscription Details: The Namo eWaste IPO is a Book Built Issue totaling ₹51.20 Crores, consisting entirely of a Fresh Issue of 22.29 Lakh Shares. The subscription period runs from September 04, 2024, to September 06, 2024. Allotment is expected on September 09, 2024, with shares listed on the NSE SME around September 11, 2024.

The share price band for the IPO is set between ₹80 and ₹85 per share. Investors must subscribe to a minimum lot of 1,600 shares, requiring a minimum investment of ₹136,000 for retail investors, while High-Net-Worth Individuals (HNIs) must invest in at least 2 lots (totaling 3,200 shares), amounting to ₹272,000.

Grey Market Premium: The Grey Market Premium (GMP) for Namo eWaste is estimated to range between ₹55 to ₹60. GMP provides an informal estimate of potential listing gains but is based on unregulated trading. It is subject to fluctuations in demand and supply and should be used for informational purposes only.

Live Subscription Status: As of 11:31 AM on September 06, 2024, the Namo eWaste IPO has been subscribed 44.88 times on its last day of the subscription period. For the latest updates on the subscription status, visit the NSE website.

Allotment Information: The allotment date for Namo eWaste IPO shares is September 09, 2024. Investors can check their allotment status on the registrar’s website by entering their application number, PAN, or DP Client ID.

Objectives of the IPO: Proceeds from the Namo eWaste IPO will be allocated as follows:

₹1,120 Lakhs for capital expenditure related to setting up a new factory unit at Nashik through their subsidiary, Techeco Waste Management LLP.

₹2,200 Lakhs to meet working capital requirements.

General corporate purposes.

Company Overview and Financial Performance: Namo eWaste, managed by Akshay Jain, boasts over 09 years of expertise in the e-Waste management sector. Under his leadership, the company has seen significant growth. Financially, Namo eWaste's revenue surged from ₹4,509.00 Lakhs in FY22 to ₹10,107.62 Lakhs in FY24. EBITDA increased from ₹259.26 Lakhs to ₹1,117.77 Lakhs, and PAT grew from ₹180.89 Lakhs to ₹682.90 Lakhs over the same period.

For the IPO, Namo eWaste is offering shares with a pre-issue EPS of ₹4.33 and a post-issue EPS of ₹2.98. The pre-issue P/E ratio is 19.63x, while the post-issue P/E ratio stands at 28.52x, compared to the industry average of 95.79x. The company’s ROCE and ROE for FY24 are 20.71% and 21.54%, respectively, indicating that the IPO is attractively priced.

IPO Review: With potential listing gains of 65% to 70%, the Namo eWaste IPO appears to be a promising investment opportunity, whether for short-term gains or long-term holding.

For more details on the IPO, visit Best IPO to Apply Now - IPO List 2024 and Top News Headlines - Share Market News.

Join our Trading with CA Abhay Telegram Channel for expert trading advice and the Finance Saathi Telegram Channel for the latest IPO updates.

Start investing by opening a free demat account with Choice Broking FinX.