A leading name in the metal recycling and processing industry, Nupur Recyclers, has finalized the share allotment for its initial public offering (IPO). Emerging as the most popular SME IPO of India in 2021, the company has listed on a premium of 23.33% at the NSE Emerge Platform. Later, the premium went up to approximately 30% in just a few hours.
The IPO, which opened for subscription from December 13-15, was subscribed 41.37 times, with bids coming in for 23 crore shares against an offer size of 57 lakh 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 was Rs. 1,20,000/-.
The public issue subscribed 34.23 times in the retail category, and 53.01 times in the NII category on Day 3, i.e., Dec 15, 2021. Nupur Recyclers was looking to raise Rs 34.2 crore at the fixed price of Rs 60 per share.
Nupur Recyclers is leading with the strong vision of organizing the unorganized market for metal scrap in India. In order to achieve this, the company has partnered with numerous shredder & Floatation plants in Europe & USA for the import of substances such as shredded Zinc Scrap, Zinc die-cast scrap, Zurik SS scrap, and Aluminium Zorba grades.
The company has witnessed significant growth Y-o-Y in revenue in FY 2020-21 when it clocked INR 105.98Cr and is expected to record more than 50% 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.