Apex Ecotech IPO Day 3: Check GMP, subscription status & other key details
Apex Ecotech IPO opened on November 27. The offering saw strong retail interest. The grey market premium indicates gains for investors post-listing.
Apex Ecotech IPO: The initial public offer of Apex Ecotech opened for subscription on November 27 in the price band of ₹71 to ₹73 per share. Apex Ecotech IPO, worth ₹25.54 crore, is entirely a fresh issue of 34.99 lakh shares.
The issue closed for subscription on Friday, November 29, with the allotment expected to be finalized on Monday, December 2. Apex Ecotech IPO listing is expected to take place on Wednesday, December 4.
The minimum lot size of Apex Ecotech IPO is 1600 shares, requiring an investment of ₹116,800 by the retail investors to subscribe to one lot of the issue.
The company plans to utilize the funds raised from the IPO to meet working capital requirements, for general corporate purposes and to meet public issue expenses, as per its RHP.
Apex Ecotech IPO Subscription Status
Apex Ecotech IPO sailed through on the first day itself amid strong demand from both retail investors and non-institutional investors (NIIs).
At the end of the third day, Apex Ecotech IPO subscription stood at 457.07 times. The retail investor portion was subscribed 329.65 times, while the NII portion was booked a whopping 1,179.62 times. The qualified institutional buyer (QIB) quota garnered 136.69 times bids.
Apex Ecotech IPO GMP
Apex Ecotech IPO grey market premium or GMP stood at ₹30 apiece, suggesting a strong listing gain for its investors. Apex Ecotech IPO GMP suggests the company shares could list at ₹103, a premium of ₹41% over the upper price band of ₹73.
About Apex Ecotech
Incorporated in 2009, Apex Ecotech provides comprehensive solutions for water and wastewater treatment, recycling, and reuse across various applications. Its services include the setup of raw water treatment systems for industrial processes, effluent and sewage treatment plants to comply with pollution norms, and the provision of sludge dewatering equipment.
Additionally, it specialises in recycling pretreated wastewater through membrane systems such as ultrafiltration, nano filtration, reverse osmosis, and disc-type RO, along with thermal and vapour compression-based evaporators and crystallisers for zero liquid discharge systems.
Some of the marquee customers of Apex Ecotech include Aditya Birla Group, Ashok Leyland, Escorts Kubota, Haldiram, Hero Motocorp, Honda Cars, Honda Scooters & Motorcycle, HUL, Jubilant, Kohler, Lenskart, Mahindra & Mahindra and PepsiCo.
Apex Ecotech Limited's revenue increased by 53.1% and profit after tax (PAT) rose by 88.31% between FY24 and FY23.
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