Urban Enviro Waste Management IPO: Opening on June 12; Price Band, Offer Dates & More

EMS IPO: 23x subscription on day 3, retail segment 22.6x booked

Urban Enviro Waste Management IPO Details: Price, Dates & All

Urban Enviro Waste Management, a leading provider of general waste handling and management services, is set to launch its initial public offering (IPO) on June 12. The company aims to raise up to ₹11.42 crore through this offering.

The Urban Enviro Waste Management IPO, classified as an SME IPO and a fixed price issue, will conclude on June 14.

The total issue size for the IPO is ₹11.42 crore, with 11.42 lakh equity shares being offered at a fixed price of ₹100 each. Each share has a face value of ₹10.

The issue comprises a fresh issue of 9.2 lakh equity shares, amounting to ₹9.2 crore, and an offer for sale (OFS) of 2.22 lakh equity shares by selling shareholder Vikas Sharma.

The market lot size for the Urban Enviro Waste IPO is 1,200 equity shares, and the shares will be listed on the NSE Emerge platform.

As part of the offering, the company has reserved 57,600 equity shares, totaling ₹57.6 lakh, for the Market Maker Reservation Portion. Additionally, 50% of the net offer will be allocated to Retail Individual Investors, while the remaining portion will be open to other investors, including corporate bodies and institutions.

The net proceeds from the IPO will be utilized for the full repayment of certain secured borrowings availed by the company, funding working capital requirements, and supporting general corporate purposes.

Pantomath Capital Advisors Private Limited is the lead manager for the IPO, and Bigshare Services Private Limited has been appointed as the IPO registrar.

Financial Highlights:

In the fiscal year 2021-22, Urbano Enviro reported a net profit of ₹1.29 crore, a significant increase from ₹0.83 crore in the previous fiscal year (2020-21). Its revenue from operations also witnessed growth, rising from ₹15.72 crore in FY21 to ₹19.69 crore in FY22.

For the period ending March 31, 2023, the company recorded a net profit of ₹1.06 crore, with revenue from operations reaching ₹26.30 crore.

Urban Enviro Waste Management Limited specializes in providing Waste Management Solutions and Municipal Solid Waste (MSW) Management services, including waste collection, transportation, segregation, and disposal services across India.

Also Read: All Upcoming IPO Details

The company caters to various clients, including Indian Local Bodies, Residential Areas, Industries, Research Institutes, Power Stations, Government & Semi-Government Hospitals, and Cantonment Boards.

Suresh Sharma, Promoter and Whole Time Director of Urban Enviro Waste Management, stated, “Currently, our projects are mainly focused on Tier-II or Tier-III cities, and now we are looking to expand our presence in Tier-I and larger cities to drive the next phase of growth. We aim to establish a presence in Uttar Pradesh and Madhya Pradesh, in addition to our existing operations in four states. The IPO will enable us to pursue opportunities in bigger cities.”

To date, the company has undertaken over 24 projects, with 21 ongoing in the Central and Western states of Maharashtra, Gujarat, Rajasthan, and Chhattisgarh.

About Urban Enviro Waste Management:

Urban Enviro Waste Management Limited offers Waste Management Solutions and services for Municipal Solid Waste (MSW) Management. These services include waste collection, transportation, segregation, and disposal throughout the country.

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