Apex Ecotech lists at 90% premium over IPO price; check how much return investors made

Apex Ecotech Limited made a stellar debut on the NSE SME platform Emerge on Wednesday, December 4, with its shares listing at a 90% premium.

Apex Ecotech shares opened at ₹138.7 apiece on the NSE Emerge platform compared to the issue price of ₹73 apiece.

Retail investors, who were allotted at least one lot, or 1,600 shares, would have made a profit of ₹1,05,120 (₹65.7 x 1,600) after the stock started trading on the exchange.

Soon after listing, the stock rallied 5% to hit the upper circuit limit at ₹145.6 apiece. As many as 4.9 lakh company shares changed hands on the NSE after the stock began to trade. Apex Ecotech Limited's total market capitalisation stood at ₹191.98 crore.

Apex Ecotech IPO details

Apex Ecotech IPO was worth ₹25.54 crore. The book-built issue consisted of a fresh issuance of 34.99 lakh shares. The issue price was fixed at ₹71 to ₹73 per share.

The application size for retail investors was at least a single lot consisting of 1,600 shares, which aggregated to an investment of ₹1,16,800.

Apex Ecotech IPO was booked 457.15 times during the three-day subscription window, which opened on Wednesday, November 27 and closed on Friday, November 29.

The non-institutional investors (NII) quota of Apex Ecotech IPO was booked 1,180.02 times. The retail investors’ quota was booked 329.64 times, while the Qualified Institutional Buyers (QIBs) booked their category 136.68 times.

The company plans to use the proceeds from the public issue to meet working capital requirements, fund general corporate purposes, and pay public issue expenses.

Apex Ecotech Limited was founded in 2009. The company provides water and wastewater treatment, recycling, and reuse solutions. Some notable clients include the Aditya Birla Group, Ashok Leyland, Apotex Research, Bharatiyam, and Escorts Kubota.