GEM Enviro Shares Showcase Strong Performance on Listing Day, Prices Surge to Rs 149.62 per Share

GEM Enviro Management (BSE: GEMENVIRO), specializing in plastic waste management and sustainability services, experienced an excellent market response on its listing day. With a listing price of Rs 142.50, the share closed at Rs 149.62 at the end of the day. During the subscription period, the IPO received strong investor interest, being subscribed over 265 times.

The stock is traded in the MT segment of the BSE (mandatory trade-to-trade for SME-IPOs) on a T+1 settlement cycle. With a 5% circuit filter for the day, the upper circuit price was set at Rs 149.62. Throughout the day, the script saw healthy trading volumes of 14.97 lakh shares, valued at 2,240.71 lakh, maintaining momentum and closing at Rs 149.62 on the BSE SME. The stock trades under the BSE Code (544199) and the ISIN code for demat credits is (INE0RUJ01013).

Commenting on the listing day performance, Mr. Sachin Sharma, Managing Director & Founder at GEM Enviro Management, said, "We are delighted with the strong market performance of GEM Enviro shares on our listing day, reaching upper circuit price. We are excited about the opportunities this opens up for us and are committed to delivering exceptional value to our stakeholders."

Investors had to purchase a minimum of 1600 shares, requiring a total investment of INR minimum Rs 120,000. With shares listed at INR 142.50 in the morning, investors enjoyed a listing gain of Rs 67.50 per share. This successful listing marks a significant milestone for GEM Enviro Management, solidifying its position for continued growth in the ever-evolving waste management sector.

Shares of GEM Enviro Management Limited was last trading in BSE at Rs. 149.62 as compared to the previous close of Rs. 0.00. The total number of shares traded during the day was 1497600 in over 631 trades.

The stock hit an intraday high of Rs. 149.62 and intraday low of 142.50. The net turnover during the day was Rs. 217588864.00.

Source : Equity Bulls

Keywords

GEMEnviroManagement INE0RUJ01013 WasteManagement Listing IPO MarketResponse