GEM Enviro Management Listing: Stock makes stellar market debut, lists with 90% premium at ₹142

GEM Enviro Management made a stellar market debut today, as its shares opened at ₹142.50 each on BSE SME, indicating a premium of 90% over the issue price of ₹75. The price continued to surge post the listing to hit the ₹149 mark, a 99% premium over the issue price.

The SME IPO, valued at ₹44.93 crore, was open for subscription from June 19 to June 21, 2024, at a price between 71 and 75 per share. It consisted of a combination of a fresh issue of 14.98 shares, aggregating to ₹11.23 crore, and an offer for sale of 44.93 lakh shares, aggregating to ₹33.70 crore.

The company plans to use the net issue proceeds to meet working capital requirements and for general corporate purposes. The IPO received an exceptional response from all sections of investors, with a staggering subscription rate of 265 times.

The retail investor portion saw a subscription of 240 times, while the non-institutional investors' quota was booked 462 times. The qualified institutional buyers (QIB) category has been subscribed to 160 times.

The company is a Waste Management Agency (WMA), providing sustainability services to our clients and thereby addressing the profound environmental issues posed by waste.

It provides a range of services, including EPR (Extended Producer Responsibility) compliance, scrap management, ESG (Environment, Social, and Governance) consulting, BRSR (Business Responsibility and Sustainability Reporting) reporting, project advisory and management of plastic credits, sales and marketing of recycled products, and eco-awareness campaigns, adopting a closed-loop model that significantly reduces the environmental impact and also dealing in plastic scrap trading.

With a diverse portfolio of 100+ clients, GEM Enviro Management has established strong relationships across various industries, including food and beverages (F&B), fast-moving consumable goods (FMCG), cement, fertilizers, packaging, consumer goods, and many more.

A few of GEM’s prominent clients are companies such as Bengal Beverages Private Limited (Bottler of THE COCA-COLA COMPANY), Varun Beverages Limited, National Fertilizers Limited, PepsiCo India Holdings Private Limited, Krishak Bharati Cooperative Limited (KRIBHCO), etc.

It is a key player in India's Extended Producer Responsibility (EPR) sphere for plastic waste, providing more than 300,000 MT of EPR credits to its customers in the financial year 2022–23. It works with more than 25 plastic waste processors for the same.

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