Namo eWaste Management IPO

About Namo eWaste Management IPO

Namo eWaste Management is launching its IPO on September 4, 2024, with plans to raise ₹51.20 crore through a fresh issue of 60.24 lakh shares. The subscription period will be open until September 6, 2024. Investors can participate with a price band set between ₹80 and ₹85 per share.

The IPO requires a minimum investment of ₹136,000 for retail investors, with a lot size of 1,600 shares. High Net-Worth Individuals (HNIs) can invest in a minimum of two lots (3,200 shares) amounting to ₹272,000. The allotment is expected to be finalised on September 9, 2024, with the shares listing on NSE SME on September 11, 2024.

Hem Securities Limited is the lead manager for the IPO, while Maashitla Securities Private Limited serves as the registrar. Hem Finlease is the market maker for this offering.

About Namo eWaste Management Limited

Namo eWaste Management Limited is a key player in the recycling industry, specialising in the collection, disposal, and recycling of electronic waste. The company handles a wide range of electronic items, including air conditioners, refrigerators, laptops, phones, and more.

Committed to environmental sustainability, Namo eWaste is ISO 9001:2015, ISO 14001:2015, ISO 27001:2022, and ISO 45001:2018 certified, ensuring that all operations comply with strict environmental regulations. Namo eWaste recycles valuable components like copper, aluminium, and iron from electronic waste, while safely disposing of hazardous materials. The company also focuses on raising public awareness about the importance of responsible e-waste disposal through campaigns and collection drives.

The company provides a variety of services, including electronic recycling, data destruction, IT asset disposition, and refurbishment. Namo eWaste collaborates with manufacturers and producers under Extended Producer Responsibility (EPR) guidelines to manage the entire lifecycle of electronic products, from collection to environmentally responsible disposal.

Namo eWaste operates a factory in Faridabad, Haryana, and recently expanded its operations by acquiring Techeco Waste Management LLP in Nashik, Maharashtra. The company is led by Akshay Jain, a promoter with over 9 years of experience in the e-waste management industry. Namo eWaste's expertise and commitment to sustainability have positioned it as a leader in the e-waste management sector.

Industry Outlook:

1. India generates 3.2 million tonnes of e-waste annually, making it the third-largest producer globally. The growing ICT sector contributes significantly to this increase, and the demand for effective e-waste management solutions is rising.
2. The Indian government has introduced multiple e-waste management rules. Over 569 authorised recyclers have a combined processing capacity of 17,90,348 tonnes per annum.
3. With institutions like BARC (Bhabha Atomic Research Centre) developing energy-efficient and cost-effective e-waste recycling technologies, Namo eWaste Management Limited can leverage these advancements to enhance its recycling processes.

Namo eWaste Management IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. Allocate ₹1,120.00 lakh for funding the capital expenditure of Techeco Waste Management LLP to establish a new factory in Nashik.
2. ₹2,200.00 lakh are designated to meet the company's working capital requirements.
3. The remaining net proceeds will be used for general corporate purposes.

Peer Details

As per RHP, the following are the listed companies in India that are engaged in a business line similar to Namo eWaste Management Limited:

1. Eco recycling Limited
2. Cerebra Integrated Technologies Limited

How to Check the Allotment Status of the Namo eWaste Management IPO?

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• Log in to the Angel One app
• Go to the individual order details page of the IPO that you had applied for.
• Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email, and SMS.

Contact Details of Namo eWaste Management Limited IPO

• Registered office: B-91, Private No. A-6, Basement, Main Road, Kalkaji, South Delhi, New Delhi-110019, Delhi, India
• Phone: +91-129-4315187
• E-mail: cs@namoewaste.com