Urban Enviro Waste Management IPO: Issue opens today; Check GMP, price band, other key things to know

The initial public offering (IPO) of Urban Enviro Waste Management opens for subscription on Monday. The company is a general waste handling and management services provider and caters to Indian Local Bodies along with providing its services to Residential Areas, Industries, Research Institutes, Power Stations, Government & Semi Government Hospitals and Cantonment Boards few.

Urban Enviro Waste Management IPO is an SME IPO and a fixed price issue. 

Here are 10 key things to know about the Urban Enviro Waste Management IPO:

- Issue dates: The Urban Enviro Waste Management IPO opens for public subscription on June 12 and will close on June 14. The basis of allotment of shares will be fixed on June 19 and initiation of refunds will take place on June 20. The shares will credited to the demand accounts of allottees on June 21. 

- Price band: The IPO has a fixed issue price of ₹100 per share.

- Issue size: The total issue size of Urban Enviro Waste Management IPO is ₹11.42 crore consisting of sale of 11.42 lakh equity shares at a fixed price of ₹100 each. The face value of the shares is ₹10 each.

The issue consists of a fresh issue of 9.2 lakh equity shares, aggregating to ₹9.2 crore and an offer for sale (OFS) of 2.22 lakh equity shares by selling shareholder Vikas Sharma.

- Lot size: The market lot size of Urban Enviro Waste IPO is 1,200 equity shares.

- Investment amount: The minimum investment amount for retail investors for one lot of Urban Enviro Waste Management IPO is ₹120,000.

- IPO Listing: The shares of Urban Enviro Waste Management will be listed on June 22 at NSE Emerge platform.

- Book running lead manager: The lead manger to the issue is Pantomath Capital Advisors Private Limited.

- IPO registrar: Bigshare Services Private Limited is the IPO registrar.

- IPO share reservation: The company has allocated 57,600 equity shares aggregating to ₹57.6 lakh as Market Maker Reservation Portion. 50% of the net offer will be reserved for Retail Individual Investors and remaining for other investors including corporate bodies or institutions.

- Urban Enviro Waste Management IPO GMP: The Urban Enviro Waste Management IPO GMP or grey market premium is ₹25, according to IPO Watch. This means the shares of the company are trading at a premium of ₹25 in the grey market, as per market observers. Considering the issue price of ₹100 and GMP of ₹25, the shares of Urban Enviro Waste Management are expected to be listed at ₹125 apiece.

Read all IPO related news here

Urban Enviro Waste Management Limited provides Waste Management Solutions and Municipal Solid Waste (MSW) Management services comprising waste collection, transportation, segregation & disposal services across the country.

The company proposes to utilize the net proceeds towards repayment of certain secured borrowings in full availed by the company, funding working capital requirements and general corporate purposes.

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