Namo eWaste Management Limited, a leader in sustainable electronic waste management, is launching a ₹51.20 Crore IPO from September 4 to September 6, 2024. This book-built issue comprises 22.29 Lakh shares with a price band of ₹80 to ₹85 per share. The shares are set to list on the NSE SME with a tentative date of September 11, 2024.

IPO Details
Investors can purchase shares in lots of 1,600, with a minimum investment of ₹136,000 for retail investors and ₹272,000 for High-Net-Worth Individuals (HNIs), who need to invest in 2 lots (3,200 shares). The allotment is expected to be finalized on September 9, 2024.

Lead Managers and Registrar
HEM SECURITIES LIMITED serves as the book-running lead manager, MAASHITLA SECURITIES PRIVATE LIMITED is the registrar, and Hem Finlease Private Limited is the sole Market Maker for the IPO.

Grey Market Premium (GMP)
The Grey Market Premium (GMP) for the Namo eWaste IPO is anticipated to be between ₹55 and ₹60. This premium reflects the market sentiment and potential demand but does not guarantee actual post-listing performance. The GMP suggests a potential listing gain of 65% to 70%.

Live Subscription Status
As of 11:31 AM on September 6, 2024, the IPO has been subscribed 44.88 times on its final day, highlighting strong investor interest. For the latest subscription updates, check the Namo eWaste IPO Live Subscription Status on NSE.

IPO Allotment Status
The allotment date for Namo eWaste is September 9, 2024. Investors can verify their allotment status by:

Visiting the IPO allotment status page on the registrar's website.

Selecting Namo eWaste Management Limited IPO from the dropdown list.

Entering their application number, PAN, or DP Client ID.

Submitting the details to view the allotment status.

Use of IPO Proceeds
The funds from the IPO will be allocated as follows:

₹1,120.00 Lakhs for capital expenditure at their subsidiary, Techeco Waste Management LLP, to establish a new factory unit in Nashik.

₹2,200.00 Lakhs for working capital requirements, ensuring smooth operations and business growth.

General Corporate Purpose, providing flexibility for future corporate needs.

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Company Overview and Financials
Namo eWaste specializes in e-recycling and waste management, offering environmentally friendly disposal solutions with a zero waste discharge technology. The company is led by Akshay Jain, a prominent figure in the e-waste management sector with over 9 years of experience.

Financially, Namo eWaste has shown impressive growth, with revenue rising from ₹4,509.00 Lakhs in FY22 to ₹10,107.62 Lakhs in FY24. EBITDA increased from ₹259.26 Lakhs in FY22 to ₹1,117.77 Lakhs in FY24, and PAT grew from ₹180.89 Lakhs in FY22 to ₹682.90 Lakhs in FY24.

For the IPO, the pre-issue EPS is ₹4.33, and the post-issue EPS is ₹2.98. The pre-issue P/E ratio is 19.63x, and the post-issue P/E ratio is 28.52x, compared to the industry P/E ratio of 95.79x. The company’s ROCE for FY24 is 20.71%, and ROE is 21.54%, suggesting that the IPO is reasonably priced.

IPO Valuation
With strong financials and a high GMP, the Namo eWaste IPO appears fairly valued. The significant subscription rate and potential for listing gains make it an attractive investment opportunity.

Investment Recommendation
We recommend investors to apply for the Namo eWaste Management Limited IPO based on its robust financial performance, high subscription rate, and promising listing gains. The company's sustainable approach and financial growth provide a solid foundation for both short-term gains and long-term investment.

For the latest updates, check the Namo eWaste IPO Live Subscription Status and monitor the allotment status on the Registrar’s website after the IPO period.

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