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Business

Updated on: Thursday, December 16, 2021, 06:43 PM IST

Nupur Recyclers IPO closes on Day 3; subscribed over 41.37 times

Nupur Recyclers has set new benchmarks by emerging as the most popular SME IPO of India on NSE Emerge platform in 2021 garnering the maximum subscriptions both in terms of no. of shares and the amount. / Representational image |

Nupur Recyclers has set new benchmarks by emerging as the most popular SME IPO of India on NSE Emerge platform in 2021 garnering the maximum subscriptions both in terms of no. of shares and the amount. / Representational image |

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The initial public offering (IPO) of Nupur Recyclers has been subscribed 41.37 times. The public issue subscribed 34.23 times in the retail category, and 53.01 times in the NII category on Day 3, i.e., December 15, 2021.

Nupur Recyclers has set new benchmarks by emerging as the most popular SME IPO of India on NSE Emerge platform in 2021 garnering the maximum subscriptions both in terms of no. of shares and the amount.

The company, which has made its mark in metal recycling and the electric vehicle segment, is looking to raise Rs 34.2 crore from this public issue. Corporate Capital Ventures Private Limited are appointed to manage this public issue. The company expects to list on December 23 on NSE SME Emerge.

The company issued 57,00,000 equity shares at a fixed price of Rs 60 per equity share. The minimum lot size for investment was 2000 shares and the minimum investment Rs 1,20,000.

The company has witnessed significant growth Y-o-Y in revenue in FY 2020-21 when it clocked Rs 105.98 crore and is expected to record more than 50 per cent growth this fiscal year.

The company has tied up with various countries around the globe and has worked on some major projects in European countries and has laid down guidelines for undertaking social projects for the welfare & sustainable development of the communities at large, particularly for the poor and underprivileged class.

Under the leadership of the founders, the company witnessed significant growth Y-o-Y in revenue in FY 2020-21 when it clocked Rs 105.98 crore and is expected to record more than 50 per cent growth this fiscal year.

(With inputs from ANI)

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Published on: Thursday, December 16, 2021, 06:43 PM IST
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