Namo eWaste Management IPO Day 2: Issue subscribed 14.90 times so far, retail investors lead; check key details

Namo eWaste Management IPO has received a good response from investors, with the initial public offering being subscribed 14.90 times so far on Thursday, the second day of bidding.

The part reserved for retail individual investors was subscribed 20.62 times, while the non-institutional investors portion was booked 9.40 times.

The portion set aside for the qualified institutional buyers category attracted 9 times subscription.

The SME IPO, which has set a price range of ₹80 to ₹85 per share, is live from September 4 to September 6. The public offer is entirely a fresh issue of 60.24 lakh shares.

At the upper price band, the company will raise ₹51.20 crore.

Interested investors can apply for at least 1,600 shares or one lot worth ₹1.36 lakh. High-net-worth individuals (HNIs) can bid for a minimum of two lots worth ₹2.72 lakh.

The money raised will be used to fund the capital expenditure requirement of a subsidiary, Techeco Waste Management LLP, establish a new factory unit, meet working capital requirements, and for general corporate purposes.

Hem Securities Ltd is the IPO's book-running lead manager, while Maashitla Securities Private Limited is the registrar.

Namo eWaste Management IPO: Key dates

• Bidding dates: September 4 to September 6
• Finalisation of allotment: September 9
• Initiation of refund: September 10
• Demat transfer: September 10
• Listing on NSE SME: September 11

About Namo eWaste Management

Namo eWaste Management Ltd provides solutions for e-waste collection, disposal, and recycling. The company specialises in managing electrical and electronic equipment (EEE) waste, such as air conditioners (ACs), phones, washing machines, laptops, and refrigerators.

It is an expert in extracting valuable metals like copper, aluminium, iron, and complex materials such as glass, batteries and plastics.