Urban Enviro Waste SME IPO To Open On 12th June: Should You Subscribe?

On June 12, Urban Enviro Waste Management will begin its initial public offering (IPO), with the goal of raising up to Rs 11.42 crore. 11.42 lakh equity shares will be offered for a total of Rs 11.42 crore at a fixed price of Rs 100 apiece at a face value of Rs. 10 per share. A fresh issue of 9.2 lakh equity shares totaling Rs 9.2 crore and Vikas Sharma's offer for sale (OFS) of 2.22 lakh equity shares make up the issue.

The IPO will open on Monday, 12 June 2023 and will close on Wednesday, 14 June 2023. The share basis of share allotment will be done on Monday, 19 June 2023 and the company is going to be listed on NSE SME platform on Thursday, 22 June 2023. The remaining 50% of the net offer has been reserved for other investors, with 50% of the net offer set aside for retail individual investors by the corporation.

Each lot would cost Rs 1.2 lakh and the corporation has set a fixed lot size for 1,200 equity shares. Non-retail bidders must submit applications for at least two lots, each consisting of 2,400 equity shares valued at Rs 2.4 lakh, while retail investors are limited to one lot.

Municipal solid waste (MSW) management services are provided by Urban Enviro Waste Management, a provider of waste management solutions. More than 24 projects have been carried out by the organisation so far, with 21 of those projects now in progress across the Central and Western states of Maharashtra, Gujarat, Rajasthan, and Chhattisgarh. Among its noteworthy continuing projects are the NHDC Limited Indira Sagar Power Station, Jaipur Nagar Nigam, Bhilai Nagar Nigam Chhattisgarh, Ankleshwar, NEERI, and MIHAN India.

The lead manager of Urban Enviro Waste SME IPO is Pantomath Capital Advisors Private Limited and the IPO registrar is Bigshare Services Private Limited.

Should You Subscribe Urban Enviro Waste IPO?

Nanavath Bhupal Naik, MD , Shares Bazaar said "Urban Enviro Waste, a leading player in the waste management sector, is set to launch its initial public offering (IPO) on 12th June, giving an opportunity for traders to participate in the enterprise's increase. With the ever-growing urban population and rising environmental sustainability concerns, Urban Enviro Waste has positioned itself as a critical player in the enterprise. The organization focuses on modern waste control solutions, leveraging advanced technology and sustainable practices to lessen waste and promote recycling. Investors considering the Urban Enviro Waste IPO subscription should cautiously evaluate the business enterprise's growth possibilities and marketplace situations."

"The IPO subscription length will allow investors to participate in Urban Enviro Waste's boom story. However, it is far more essential to remember that investing in IPOs incorporates inherent risks, and thorough research is important to make a knowledgeable funding decision. Overall, Urban Enviro Waste's IPO offers an exciting opportunity to put money into a company running in a crucial and expanding quarter. However, investors should carefully verify different factors before creating a subscription selection," said Nanavath Bhupal Naik.

A R Ramachandran, Co-founder & Trainer-Tips2trades said "Even though profit growth has been steady, extremely high debt-equity ratio is a major cause of worry for investors wanting to subscribe to the Urban Enviro Waste IPO. Investors should wait for listing and a correction thereafter to start investing in this stock."

Disclaimer

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