Urban Enviro Waste Management IPO: Another IPO Will Open on June 12
Urban Enviro Waste Management IPO
Urban Enviro Waste Management Company is set to launch its Initial Public Offering (IPO), providing stock market investors with an opportunity to invest and potentially earn returns.
The IPO subscription period is scheduled to open on June 12th, which falls on a Monday, and investors will have the chance to invest in the IPO until June 14th.
The company aims to raise a total of 11.42 crores through this IPO. Upon successful listing, the shares of Urban Enviro Waste Management will be available for trading on the NSE Emerge platform.
The company has set the offering price for its shares at Rs 100 per share. This price determines the initial valuation of the company and serves as the basis for investors to assess the potential return on investment.
IPO Related Details
In the Urban Enviro Waste Management IPO, the company plans to issue 9,20,000 fresh equity shares at a face value of Rs 10 each.
This translates to a total value of Rs 9.2 crore. These fresh equity shares are part of the primary offering, where the company aims to raise capital for its operations and expansion.
In addition to the fresh equity shares, there will be an Offer for Sale (OFS) component in the IPO. The selling shareholder, Vikas Sharma, will sell 222,400 equity shares.
The aggregate value of this portion of the IPO is Rs 2.224 crore. The proceeds from the sale of these shares will go to the selling shareholder rather than the company.
As part of the IPO, Urban Enviro Waste Management has allocated a Market Maker Reservation Portion consisting of 57,600 equity shares, amounting to a total value of Rs 57.6 lakh.
This allocation is specifically designated for market makers participating in the IPO process.
To encourage retail investor participation, 50% of the net offer will be reserved exclusively for retail investors. This reservation ensures that individual investors have a fair opportunity to subscribe to the IPO.
The remaining 50% of the net offer will be reserved for other investors, including corporate bodies or institutions. This allocation allows for the participation of larger investors who may have different investment strategies or requirements.
By providing separate reservation portions for market makers, retail investors, and other investors, Urban Enviro Waste Management aims to ensure a balanced and inclusive distribution of shares during the IPO process.
Utilization of Funds
The funds raised through the IPO will be allocated for various purposes by Urban Enviro Waste Management. Primarily, a portion of the funds will be utilized to cover expenses associated with the IPO process.
This includes expenses related to underwriting, legal fees, marketing, and other IPO-related costs.
Additionally, the company intends to allocate a portion of the funds to meet its working capital requirements. This ensures sufficient capital is available for day-to-day operations, including procurement, production, and distribution activities.
Furthermore, the raised funds will be used for general corporate purposes. This encompasses a wide range of potential uses, such as strategic investments, research and development, expansion plans, debt repayment, and other activities that support the overall growth and development of the company.
The Lead Manager to the Issue for the Urban Enviro Waste Management IPO is Pantomath Capital Advisors Private Limited.
They are responsible for managing and overseeing the IPO process, including activities like pricing, marketing, and investor relations.
On the other hand, BigShare Services Private Limited has been appointed as the Registrar to the Issue. Their role involves managing the share allotment process, maintaining records, and handling investor queries related to the IPO.
It’s important to note that the specific allocation and utilization of funds may be subject to change and further details can be found in the company’s prospectus or other official documents related to the IPO.
Company Statement
In a statement, Suresh Sharma, the Promoter and Whole Time Director of Urban Enviro Waste Management Limited, expressed the company’s vision to become a frontrunner in their industry. Currently, their projects are primarily concentrated in Tier-II or Tier-III cities. However, the company aims to expand its presence and operations.
Urban Enviro Waste Management has plans to establish itself in the states of Uttar Pradesh and Madhya Pradesh, in addition to the four existing states where they operate, namely Maharashtra, Gujarat, Rajasthan, and Chhattisgarh. This expansion strategy aims to tap into new markets and opportunities.
The IPO will play a significant role in facilitating the company’s growth plans. With the funds raised through the IPO, Urban Enviro Waste Management will be better positioned to pursue contracts and projects in larger cities.
This strategic move will allow them to establish a stronger presence and make a notable impact in the waste management sector.
It’s worth noting that the company’s expansion plans and market presence are subject to various factors, including regulatory approvals, market conditions, and successful implementation of their growth strategy.
About the Company
Urban Enviro Waste Management Company specializes in offering comprehensive Waste Management Solutions and Municipal Solid Waste Management Services.
With a track record of 12 years, the company has been actively providing its services to a wide range of sectors, including Residential Areas, Industries, Research Institutes, Power Stations, Government and Semi-Government Hospitals, and Cantonment Boards.
The company’s expertise lies in managing various types of waste generated by these entities, ensuring effective and sustainable waste disposal and management practices.
By catering to the needs of Indian local bodies, Urban Enviro Waste Management plays a crucial role in addressing the waste management challenges faced by communities across the country.
Through its waste management solutions, the company aims to contribute to a cleaner and healthier environment by promoting responsible waste disposal methods and implementing efficient waste management systems.
By serving diverse sectors and utilizing its industry experience, Urban Enviro Waste Management endeavors to provide reliable and customized waste management services to its clientele.
