Urban Enviro Waste Management IPO Subscription Status: The initial public offering (IPO) of Urban Enviro Waste Management Ltd has been subscribed by a staggering 9.01 times so far on day 2. The IPO is a fixed price issue and an SME IPO.
On day 2 of the subscription period, the issue received 13.42 times subscription from retail investors, while the non-institutional investors’ (NII) portion was subscribed 4.60 times, according to data on chittorgarh.com till 12:20 pm.
The company so far received total bids for 97,75,200 shares against 1,142,400 shares on offer.
Urban Enviro Waste Management IPO opened for public subscription on June 12 and will close on 14 June. The shares are offered at a fixed issue price of ₹100 per share.
The Urban Enviro Waste IPO’s market lot size is 1,200 equity shares.
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The company has allotted 57,600 equity shares totaling ₹57.6 lakh to the Market Maker portion. Retail individual investors will be eligible for 50% of the net offer, while corporate entities or institutions will receive the remaining 50%.
The ₹11.42 crore worth Urban Enviro Waste Management IPO comprises sale of 11.42 lakh equity shares at a fixed price of 100 each. The face value of each share is ₹10. The IPO consists of an offer for sale (OFS) of 2.22 lakh equity shares by selling shareholder Vikas Sharma and a fresh issue of 9.2 lakh equity shares totalling ₹9.2 crore.
The company will fix the basis of allotment on June 19 and refunds will begin on June 20. On June 21, the shares will be credited to the allottees’ demat accounts. The shares are likely to be listed on June 22 at the NSE Emerge platform.
The company plans to use the net proceeds to pay back some secured loans in full, pay for its working capital needs, and for other general business objectives.
Urban Enviro Waste Management Limited provides Waste Management Solutions and Municipal Solid Waste (MSW) Management services comprising waste collection, transportation, segregation & disposal services across the country.
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Updated: 13 Jun 2023, 12:36 PM IST