The initial public offering (IPO) of Nupur Recyclers, a leading name in the metal recycling and processing industry, is subscribed 7.74X on December 14th, 2021. The public issue was subscribed 6.40X in the retail category and 9.08X in the NII category.
The IPO was fully subscribed within the 2 hours on the Day 1, i.e., December 13th, 2021 and by the closing time, it reached up to 4X.
Nupur Recyclers is looking to raise INR 34.2 crore from this public issue. The issue will close on December 15, 2021. Investment banks such as Corporate Capital Ventures Private Limited are appointed to manage its public issue. The company expects to list on December 23 on NSE Emerge.
The company is issuing 57,00,000 shares at a fixed price of Rs. 60 per equity share. The minimum lot size for investment is 2000 shares and the minimum investment would be Rs. 1,20,000/-.
Nupur Recyclers is headed 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.