IPO News

Nupur Recyclers IPO Closes Day 3 with over 41.37X subscription

Posted On : 2021-12-15 20:02:54( TIMEZONE : IST )

Nupur Recyclers IPO Closes Day 3 with over 41.37X subscription

The initial public offering (IPO) of Nupur Recyclers, a leading name in the metal recycling and processing industry, has been subscribed 41.37 times. The public issue subscribed 34.23 times in the retail category, and 53.01 times in the NII category on Day 3, i.e., Dec 15, 2021. Nupur Recyclers has set new benchmarks by emerging as the most popular SME IPO of India on NSE Emerge platform in 2021 garnering the maximum subscriptions both in terms of no. of shares and the amount.

The company, which has made its mark in metal recycling and the Electric Vehicle segment, is looking to raise INR 34.2 crore from this public issue. Corporate Capital Ventures Private Limited are appointed to manage this public issue. The company expects to list on December 23 on NSE SME Emerge.

The company issued 57,00,000 equity shares at a fixed price of Rs. 60 per equity share. The minimum lot size for investment was 2000 shares and the minimum investment Rs. 1,20,000/-.

Nupur Recyclers is leading with the strong vision of organizing the unorganized market for metal scrap in India. In order to achieve this, the company has partnered with numerous shredder & Floatation plants in Europe & USA for the import of substances such as shredded Zinc Scrap, Zinc die-cast scrap, Zurik SS scrap, and Aluminium Zorba grades.

The company has witnessed significant growth Y-o-Y in revenue in FY 2020-21 when it clocked INR 105.98Cr and is expected to record more than 50% growth this fiscal year. The company has tied up with various countries around the globe and has worked on some major projects in European countries and has laid down guidelines for undertaking social projects for the welfare & sustainable development of the communities at large, particularly for the poor and underprivileged class.

Source : Equity Bulls


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