Namo eWaste Management Limited stands out as a leading electronic waste management company in India, known for its sustainable and cost-effective e-Recycling services. With a commitment to environmental responsibility, Namo eWaste employs zero waste discharge technology, making its facility one of the most eco-friendly in the country.

The Namo eWaste Management Limited IPO is scheduled to open on September 04, 2024, with a price band ranging from ₹80 to ₹85 per share. This Book Built Issue involves a fresh issue of 22.29 lakh shares, amounting to a total value of ₹51.20 crores. The subscription period will close on September 06, 2024, with allotment expected to be finalized on September 09, 2024, and shares are anticipated to list on the NSE SME on September 11, 2024.

The IPO requires a minimum investment of ₹136,000 for retail investors, who must subscribe to at least 1,600 shares. High-Net-Worth Individuals (HNIs) are required to invest a minimum of ₹272,000 for 3,200 shares. HEM SECURITIES LIMITED is the book-running lead manager, MAASHITLA SECURITIES PRIVATE LIMITED is the registrar for the issue, and Hem Finlease Private Limited serves as the sole market maker.

Utilization of IPO Proceeds:

The funds raised from the IPO will be allocated towards:

₹1,120.00 lakhs for capital expenditure at Techeco Waste Management LLP, including the setup of a new factory unit in Nashik.

₹2,200.00 lakhs for meeting working capital needs.

General corporate purposes.

Financial Performance:

Namo eWaste has demonstrated robust financial growth. Revenue increased from ₹4,509.00 lakhs in FY22 to ₹5,856.07 lakhs in FY23, with a significant jump to ₹10,107.62 lakhs in FY24. EBITDA rose from ₹259.26 lakhs in FY22 to ₹1,117.77 lakhs in FY24, while PAT increased from ₹180.89 lakhs in FY22 to ₹682.90 lakhs in FY24, reflecting a steady financial performance.

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For this IPO, Namo eWaste is offering shares with a pre-issue Earnings Per Share (EPS) of ₹4.33 and a post-issue EPS of ₹2.98. The pre-issue Price-to-Earnings (P/E) ratio is 19.63x, and the post-issue P/E ratio is 28.52x, compared to the industry average of 95.79x. The company's Return on Capital Employed (ROCE) for FY24 is 20.71%, and the Return on Equity (ROE) is 21.54%, suggesting that the IPO is fairly priced relative to industry benchmarks.

Grey Market Premium (GMP):

The Grey Market Premium for the Namo eWaste IPO is expected to be between ₹55 and ₹60, indicating potential listing gains of 65% - 70%. While GMP provides an indication of market sentiment, it should not be relied upon for definitive pricing before the official listing.

Subscription Status and Allotment:

The IPO’s allotment date is set for September 09, 2024. Investors can check the allotment status on the registrar's website by:

Visiting the IPO allotment status page.

Selecting Namo eWaste Management Limited IPO from the dropdown menu.

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

Submitting the details to view the allotment status.

Given the company's financial performance and IPO valuation, it is recommended to consider the Namo eWaste Management Limited IPO for potential listing gains and long-term investment opportunities.

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