Namo eWaste Management IPO Listing Today

Namo eWaste Management, a company specializing in e-waste collection, disposal, and recycling, made a stellar debut on the Indian stock market on 11th September 2024, listing its shares at a significant premium to the issue price. The company's initial public offering (IPO) generated robust demand from investors during its subscription period, setting the stage for an impressive market debut.

Listing Details

• Listing Price: Namo eWaste Management shares were listed at ₹161.50 per share on the NSE SME platform, marking a strong start to its journey as a publicly traded company.
• Comparison to Issue Price: The listing price represents a substantial premium over the IPO issue price. Namo eWaste Management had set its IPO price at ₹85 per share.
• Percentage Change: The listing price of ₹161.50 on the NSE SME translates to a premium of 90% over the issue price of ₹85.

First-Day Trading Performance

• Opening Price: The stock opened at ₹161.50 per share.
• Market Capitalisation: The company's market capitalisation stood at approximately ₹194 crore.

Market Sentiment and Analysis

• Market Reaction: The market reacted overwhelmingly positively to Namo eWaste Management's listing. The strong listing premium indicates robust demand and investor confidence in the company's prospects.
• Grey Market Premium: Prior to listing, shares were trading at a premium of ₹82 in the grey market, suggesting an expected listing gain of 96.47% that was nearly fully realized.
• Subscription Rate: The IPO was massively oversubscribed by 225.64 times, with the retail category subscribed 195.54 times, QIB category 151.75 times, and NII category 394.20 times.

Also read about Namo eWaste Management IPO

Growth Drivers and Challenges

Expected drivers of future performance:

• Comprehensive services for recycling electrical and electronic equipment waste
• Compliance with strict environmental regulations
• Ability to extract valuable commodities from e-waste

Potential Challenges:

• Competition in the e-waste management industry
• Dependence on contracts with manufacturers and producers
• Regulatory changes in environmental policies

Utilisation of IPO Proceeds

Namo eWaste Management plans to use the funds for:

• Setting up a new factory unit in Nashik
• Meeting working capital requirements
• General corporate purposes

Financial Performance

The company has demonstrated strong financial growth:

• Net profit increased by 183% year-on-year in FY2024
• Revenue grew by 73% year-on-year in FY2024

As Namo eWaste Management begins its journey as a listed entity, market participants will closely monitor its ability to leverage its position in the e-waste management industry to drive future growth and shareholder value. The stellar listing and overwhelming subscription rates suggest extremely positive market sentiment towards the company's prospects in the rapidly growing electronic waste recycling sector.