GEM Enviro IPO price band set at ₹71 - 75 per share; SME IPO to open on June 19

  • GEM Enviro IPO price band is set at 71 to 75 per share. At the upper end of the price band, GEM Enviro Management IPO size is 44.93 crore.

Ankit Gohel
First Published13 Jun 2024, 02:03 PM IST
GEM Enviro IPO opens for subscription on June 18 and closes on June 21.
GEM Enviro IPO opens for subscription on June 18 and closes on June 21.(Image: Company Website)

GEM Enviro IPO: GEM Enviro Management Ltd, a waste management company, plans to go public with the launch of its initial public offering (IPO) worth 44.93 crore. GEM Enviro IPO is an SME IPO and is set to hit the street on June 19.

The bidding for GEM Enviro IPO closes for subscription on June 21 and the IPO allotment is expected to be finalized on June 24. 

GEM Enviro IPO price band is set at 71 to 75 per share. At the upper end of the price band, GEM Enviro Management IPO size is 44.93 crore. The book-built issue is a combination of fresh issue of 14.98 lakh equity shares aggregating to 11.23 crore and offer for sale (OFS) of 44.93 lakh shares aggregating to 33.70 crore.

Also Read: ixigo IPO allotment in focus today; latest GMP, key dates, step-by-step guide to check status

GEM Enviro IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is 120,000. The equity shares of GEM Enviro Management will list on BSE SME with tentative listing date fixed as June 26.

The company plans to utilise the net issue proceeds to meet working capital requirements and for general corporate purposes.

Sachin Sharma, Sangeeta Pareekh, Dinesh Pareekh, Sarthak Agarwal, and BLP Equity Research Private Limited are the promoters of GEM Enviro Management Ltd. The promoter shareholding in the company will come down to 73.44% after the IPO from 100% at present.

Also Read: Indian snack maker Haldiram's considers to raise funds via IPO: Report

GEM Enviro Management is a waste management company which specialises in recycling all packaging waste, including plastic waste.

Share India Capital Services Pvt Ltd and Fintellectual Corporate Advisors Pvt Ltd are the book running lead managers of the GEM Enviro IPO, while Skyline Financial Services Pvt Ltd is the IPO registrar.

GEM Enviro Management reported a net profit of 10.01 crore upon a revenue of 42.80 crore in FY23 as against a net profit of 7.45 crore and revenue of 32.91 crore in FY22.

For the nine months ended December 2023, the company posted a net profit of 8.40 crore and revenue of 26.39 crore.

Also Read: 3C IT Solutions shares make a weak debut, list with 17.29% discount at 43.01 on BSE SME

GEM Enviro IPO GMP Today

GEM Enviro IPO GMP today, or grey market premium today, is 25 per share, according to stock market observers. This indicates that GEM Enviro shares were trading higher by 25 at 100 apiece in the grey market, a premium of 33.33% to the issue price of 75 per share.

Read all IPO news here

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First Published:13 Jun 2024, 02:03 PM IST
HomeMarketsIPOGEM Enviro IPO price band set at ₹71 - 75 per share; SME IPO to open on June 19

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