Namo eWaste IPO Listing: A Remarkable Debut on NSE’s SME Platform
Today marks a significant moment for Namo eWaste Management, a leading player in the electronic waste recycling industry, as its Initial Public Offering (IPO) made a stellar debut on the National Stock Exchange (NSE) SME platform. This IPO was met with overwhelming enthusiasm, attracting bids that exceeded 225 times the offered shares. Initially issued at a price of Rs 85, the shares soared to Rs 161.50 upon listing, providing investors with a remarkable listing gain of 90%. As trading progressed, Namo eWaste shares further ascended, hitting the upper circuit limit of Rs 169.55, translating to an astonishing profit of 99.47% for those who participated in the IPO.
Strong Demand for Namo eWaste’s IPO
Namo eWaste’s IPO, valued at Rs 51.20 crore, was open for subscription between September 4 and 6. The overwhelming response from investors was evident as the IPO was subscribed 225.64 times in total. Breaking down the subscriptions: qualified institutional buyers (QIBs) subscribed 151.75 times, non-institutional investors (NIIs) 394.20 times, and retail investors 195.54 times. The IPO involved the issuance of 60.24 lakh new shares with a face value of Rs 10 each. The funds garnered from this offering are earmarked for vital areas such as capital expenditure at its subsidiary, Techeco Waste Management LLP, as well as to support working capital needs and general corporate purposes.
About Namo eWaste Management
Namo E-Waste Management was established in 2014 and has quickly become a prominent entity dedicated to the collection and recycling of electronic waste. The company specializes in the disposal of various electronic products, including air conditioners, refrigerators, laptops, mobile phones, washing machines, and fans. Its commitment to environmental sustainability and responsible waste management is commendable and aligns with global efforts to reduce e-waste pollution.
Financial Growth and Performance
The financial performance of Namo eWaste Management highlights its impressive growth trajectory. In the fiscal year 2022, the company reported a net profit of Rs 1.81 crore, which increased to Rs 2.42 crore in FY 2023, and skyrocketed to Rs 6.83 crore in FY 2024. This growth is accompanied by a robust revenue increase, boasting a compound annual growth rate (CAGR) of over 49%, achieving revenue figures of Rs 101.08 crore. Such performance reflects the company’s solid operational strategy and its ongoing commitment to scaling its operations effectively in the ever-growing e-waste recycling sector.
Conclusion
Namo eWaste Management’s successful IPO and subsequent listing gains demonstrate the market’s confidence in the company’s growth potential. As e-waste continues to be one of the most pressing environmental challenges, companies like Namo eWaste are poised to play a pivotal role in fostering a cleaner and more sustainable future. Investors have not only realized substantial returns but have also contributed to an important cause that impacts our planet.
