Apex Ecotech IPO subscribed nearly 2 times on day 1; check offer size, price band and other key details

Apex Ecotech Limited IPO was subscribed nearly 2 times on the first day of bidding on Wednesday, November 27.

The BSE SME issue received bids for more than 44.08 lakh shares against 23.1 lakh shares on offer, leading to an overall subscription of 1.9 times.

Apex Ecotech IPO was booked 3.27 times in the retail category with applications for more than 37.79 lakh shares against 11.55 lakh shares reserved for the category. The Non-Institutional Investors (NIIs) applied for over 6.28 lakh shares against 4.96 lakh shares set aside for them. The NIIs’ category was booked 1.26 times. The Qualified Institutional Buyers (QIBs) placed no bids on the first day of bidding. The company has set aside 6,59,200 shares set aside for the category.

Apex Ecotech IPO offer size, price band and minimum investment

Apex Ecotech IPO, a book-building issue worth ₹25.54 crore, comprises only a fresh issue of 34.99 lakh shares. The IPO price band has been fixed at ₹71 to ₹73 per share.

Retail investors can place bids for a single lot size of 1,600 shares, entailing a minimum investment of ₹1,16,800. On the other hand, the High Networth Individuals (HNIs) apply for at least 2 lots, or 3,200 shares, which amounts to an investment of ₹2,33,600.

Apex Ecotech IPO allotment status and listing date

Apex Ecotech IPO is open for subscription till Friday, November 29. The IPO share allotment status is likely to be finalised on Monday, December 2.

The company is scheduled to initiate refunds and transfer of shares to the Demat accounts on Tuesday, December 3. Shares of the company will be listed on the NSE SME platform, Emerge. The tentative listing date for Apex Ecotech IPO has been fixed as December 4.

Apex Ecotech IPO Registrar

The book-running lead manager for the IPO is Share India Capital Services Private Limited. The registrar for the issue is Kfin Technologies Limited and the market maker for the issue is Share India Securities.

Apex Ecotech Promoters

The promoters of the company include Anuj Dosajh, Ramakrishnan Balasundaram Aiyer, Ajay Raina and Lalit Mohan Datta. The promoters of the company held a 94.32% stake in the company before the issue, after the public issue the stake of the promoters will be reduced to 69.29%.

Apex Ecotech key financials

Apex Ecotech’s revenue for Q2FY25 stood at ₹21.82 crore, while the company posted a net profit of ₹1.55 crore. The company’s net worth stood at ₹16.28 crore at the end of the September quarter of FY25.

Its revenue for FY24 increased by over 53% to ₹53.46 crore compared to ₹34.92 crore in FY23. The company’s net profit for the fiscal ended March 31, 2024, stood at ₹6.63 crore, an increase of 88% compared to ₹3.52 crore in the preceding fiscal. The net worth of the company more than doubled to ₹14.73 crore from ₹7.22 crore in the preceding fiscal.

Apex Ecotech IPO objective

The company plans to utilise the funds raised via the public issue to meet working capital requirements, general corporate purposes and public issue expenses.

About Apex Ecotech Limited

Apex Ecotech Limited was founded in 2009. The company provides water and wastewater treatment, recycling, and reuse solutions. The company also provides its customers with after-sales support as well as operation and maintenance services. Notable clients of the company include the Aditya Birla Group, Ashok Leyland, Apotex Research, Bharatiyam and Escorts Kubota.