Nupur Recyclers, metal recycling and processing industry, today announced that its Initial Public Offering (IPO) of Rs 34.20 crore is open for subscription on December 13, 2021. The company is issuing 57,00,000 shares at a fixed price of Rs. 60 per equity share. The minimum lot size for investment is 2000 shares and the minimum investment would be Rs. 1,20,000/-.
The issue will close on December 15, 2021. Investment banks such as Corporate Capital Ventures Private Limited are appointed to manage its public issue. The company expects to list on December 23 on NSE Emerge.
Rajesh Gupta, Founder of Nupur Recyclers, said, “Proceeds from the issue will be used to fuel the company’s next level of growth. For us, this is just the beginning as we have embarked on a journey to encourage environmental sustainability through a variety of initiatives and to gain public support at such a crucial point in the company’s journey will only strengthen our vision to keep moving ahead with a strong vigour.”
Nupur Recyclers has a strong vision of organizing the unorganized market for metal scrap in India. In order to achieve this, the company has partnered with numerous shredder and Floatation plants in Europe and USA for the import of substances such as shredded Zinc Scrap, Zinc die-cast scrap, Zurik SS scrap, and Aluminium Zorba grades, it said in a press release.
In a recent development, the company marked its foray into the Electric Vehicle (EV) sector in India. It will set up 200 EV charging points and several battery swapping stations in association with EVI Technologies. “At Nupur Recyclers, our vision has been to help conserve natural resources and protect natural ecosystems. Our expansion into the EV sector is a further step ahead in this direction as EVs can contribute significantly to the preservation and enhancement of the quality of life and the environment.”, said Gupta.
The company has witnessed growth in Y-o-Y in revenue in FY 2020-21 when it clocked Rs 105.98 crore and is expected to record more than 50 percent growth this fiscal year. It has tied up with various countries around the globe and has worked on some major projects in European countries.
