Organic Recycling Systems share price debuts at 7.5% premium at ₹215 on BSE SME
Organic Recycling Systems IPO shares list on BSE SME at ₹215, 7.5% higher than issue price
Organic Recycling Systems IPO listing date: Organic Recycling Systems shares made a somewhat a decent debut on BSE SME today. On BSE SME, Organic Recycling Systems share price today was listed at ₹215 per share, 7.5% higher than the issue price of ₹200.
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Organic Recycling IPO details
Organic Recycling Systems IPO, which is worth ₹50 crores, is completely a fresh issue of 2,500,200 equity share; there is no offer for sale (OFS) component. Sarang Bhand is the promoter of the company.
The company plans to use the net proceeds from the offering to repay debt, meet general corporate purposes, and fund issue expenses. According to red herring prospectus (RHP), 75% of gross IPO proceeds will go towards debt repayment, 20.96% will be used to meet general corporate purposes, and 4.04% will be utilised to meet issue expenses.
Arihant Capital Markets Ltd is the book running lead manager of the Organic Recycling IPO, while Maashitla Securities Private Ltd is the registrar for the issue. The market maker for Organic Recycling Systems IPO is Arihant Capital Markets.
According to RHP, Organic Recycling Systems is engaged in the solutions across waste types and across the value chain. Organic Recycling has been providing sustainable waste management solutions in India since 2008. Incorporated by technocrats our focus primarily has been on developing robust, cost effective and environment friendly technologies that are simple to operate.
Organic Recycling Systems IPO GMP today
Organic Recycling IPO GMP today or grey market premium is +16 similar to previous two trading session. This indicated that the shares of Organic Recycling IPO GMP today were trading at a premium of ₹16 in the grey market on Friday, according to investorgain.com.
Considering the upper end of the Organic Recycling IPO price band and the current premium in the grey market, the estimated listing price of Organic Recycling Systems share price was ₹216 apiece, which is 8% higher than the Organic Recycling IPO issue price of ₹200.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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