The initial public offering of Apex Ecotech Ltd. which opened on November 27 was fully subscribed on the opening day. The SME IPO was subscribed 1.99 times on day 1 led by demand from retail investors.
On day two of bidding on Thursday, Apex Ecotech IPO was booked 24.04 times. On its final day, the SME issue received a strong response from the investors as the IPO was subscribed 457.07 times led by demand from non-institutional buyers.
Apex Ecotech IPO is a book-building issue comprising an entirely fresh issue of 34.99 lakh shares. The company aims to raise Rs 25.64 crore via its maiden share sale.
Apex Ecotech IPO Day 3 Subscription Status
The IPO was subscribed 457.07 times on Friday:
Qualified Institutions: 136.69 times
Non-Institutional Buyers: 1179.62 times
Retail Investors: 329.65 times
Apex Ecotech IPO GMP Today
Apex Ecotech IPO GMP (grey market premium) was Rs 33 at 5:00 p.m. on November 29. This indicates a potential listing gain of 45.21%, with a price of Rs 106 per share, as per Investorgain.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Apex Ecotech IPO: All You Need To Know
The Apex Ecotech IPO subscription window closed on November 29.
Apex Ecotech IPO price band has been set at Rs 71 to Rs 73 per share. Retail investors need to apply for at least a single lot of 1,600 shares. This amounts to a minimum investment of Rs 1,16,800 per application.
KFin Technologies Ltd. is the registrar for the Apex Ecotech IPO. Meanwhile, Share India Capital Services Ltd. is the book-running lead manager of the issue and Share India Securities is the market maker.
Apex Ecotech IPO: Allotment And Listing Date
The Apex Ecotech IPO share allotment status is expected to be finalised on Monday, December 2.
The company is expected to credit shares to the Demat accounts of successful bidders on December 3. Non-allottees, on the other hand, will also get the refunds on the same day.
Shares of Apex Ecotech are likely to be listed on Tuesday, December 4 on the NSE Emerge (NSE SME Platform).
Apex Ecotech Ltd. Business And Financials
Apex Ecotech Ltd., founded in 2009, offers water and wastewater treatment, recycling, and reuse solutions. It provides services like setting up raw water treatment plants for industrial processes, effluent and sewage treatment plants for meeting pollution norms and providing sludge dewatering equipment among others. The company further provides its customers with after-sales support as well as operation and maintenance services.
The most noted clients of the company include Aditya Birla Group, Ashok Leyland, Apotex Research, Bharatiyam, Escorts Kubota, Haldiram, Hero Motocorp, Honda Cars, Honda Scooters & Motorcycle, HUL, Jubilant, Kohler, Lenskart, Mahindra & Mahindra, PepsiCo, Piramal Pharma, Reckitt Benckiser and others.
Use Of Proceeds
Apex Ecotech Ltd. proposes to utilise the proceeds from the fresh issue to meet working capital requirements. A portion of the funds will be used for general corporate purposes and issue-related expenses.
Financials
As of the 6 months period ended September 30, Apex Ecotech reported a revenue from operations of Rs 21.7 crore. The net profit of Apex Ecotech during this period was Rs 1.55 crore. In FY24, the revenue from operations jumped 53.52% to Rs 53.08 crore as compared to Rs 34.57 crore in FY23. The net profit soared 88.31% year-on-year to Rs 6.63 crore in FY24 from Rs 3.52 crore in FY23.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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