Namo eWaste Management allotment to be finalised today: Step-by-step guide to check your allotment status

The allotment for Namo eWaste Management IPO is set to be finalised today. Investors can check their allotment status through the registrar, Maashitla Securities Private Limited.

The IPO, which was open for subscription from September 4 to September 6, received a stellar response from investors. It was oversubscribed by 225 times, with the retail portion subscribed 195 times and the NII (non-institutional investor) portion subscribed 394 times. The issue price was set between ₹80 and ₹85 per share.

Due to high retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. For those who do not receive an allotment, the refund process will begin on September 10, 2024.

Allotted shares will be credited to investors' demat accounts on the same day as the refunds. The SME IPO is expected to list on the NSE SME platform around September 06, 2024.

How to check Namo eWaste Management IPO allotment status on the registrar's website?

Step 1: Please visit the following link: https://maashitla.com/allotment-status/public-issues to input your login details for the Namo eWaste Management IPO allotment.

Step 2: Choose the 'Namo eWaste Management IPO' from the company list.

Step 3: Please select either 'PAN Number, Beneficiary ID, or Application No/CAF No.'

Step 4: Click on ‘Search.’ Your Namo eWaste Management IPO will appear on your computer monitor or the display of your cell phone.

About Namo eWaste Management

The company is an E-waste Recycling Company that offers comprehensive services for recycling of electrical and electronic equipment (EEE) waste, which includes various services like e-waste collection, transportation, data destruction, IT asset disposition services, EPR services, etc. catering to various MNCs, Indian conglomerates, and others to manage their obligation under the E-Waste (Management) Rules, 2022, to safely recover valuable commodities within e-waste for recycling and reuse.

It carries out all its recycling operations through our factory located at Faridabad in Haryana for processing and extracting all of the components of an electrical item, including precious and semi-precious metals like copper, aluminum, iron, etc. Apart from this, it has one Storage & Dismantling Unit, which is used for dismantling of e-waste.

Its infrastructure in the factory gives it the flexibility to process various types of E-waste and scrap, and manufacture alloys in line with the required composition, which also enables it to process and utilize various types of scrap.

The company believes that its technological expertise and the availability of adequate equipment provide it with a cost-competitive advantage, which in turn provides it with an advantage in securing purchase orders from customers across the industries.

GMP signals strong listing

Today, the GMP for the Namo eWaste Management IPO is ₹50 per share, indicating that the shares are expected to list at ₹30 above their issue price. Based on this GMP and the IPO price, the estimated listing price of the shares is ₹135, representing a 59 percent premium over the issue price of ₹85 per share.

The grey market premium is the difference between an IPO’s issue price and its expected listing price in the unofficial market, reflecting investor sentiment and demand before the stock officially begins trading.

It is important to note that GMP is only a preliminary indicator of the listing price and should not be used as the sole basis for investment decisions.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.