On the last day of bidding for the GEM Enviro Management Limited IPO, the issue received a tremendous response from the investors with the issue getting oversubscribed 265.13 times led by Non-institutional buyers (NII) who subscribed to the issue 462.89 times. Retail investors subscribed 240.25 times and Qualified institutions (QIB) subscribed 160.22 times, according to chittorgarh.com
GEM Enviro Management Limited launched its IPO with a total value of Rs 44.93 crore, offering 14.98 lakh shares at a price band of Rs 71 to Rs 75 per share. The bidding for the SME IPO started on June 19 and ended on June 21. Investors needed to buy at least 1600 shares, requiring an investment of Rs 120,000.
The allotment for GEM Enviro IPO was finalised on Monday, June 24.
Investors who bid for the IPO can check the share allotment status on the official website of the registrar for IPO, Skyline Financial Services Private Ltd. and on the BSE website.
Steps to check GEM Enviro IPO Allotment Status on Skyline Financial Services
Visit the official website of Skyline Financial Services here: https://www.skylinerta.com/ipo.php
Choose "GEM Enviro Management Limited" from the list of companies.
Enter the required information, which could be your application number, PAN (Permanent Account Number) or DPID/Client ID.
Click the "Search" button to check your allotment status.
Download or print the allotment status for your records.
Steps to check GEM Enviro IPO Allotment Status on BSE
Go to the official BSE website here: https://www.bseindia.com/investors/appli_check.aspx
Select the issue type as 'Equity.'
Choose "GEM Enviro Management Limited" from the dropdown menu.
Enter your application number or PAN (Permanent Account Number).
Complete the 'Captcha' for verification.
Click on the "Search" button to view your allotment status.
Download or print the allotment status for your records.
The listing date for GEM Enviro IPO will be Monday, June 24, and the company's shares will be listed on BSE SME.
GEM Enviro Management Limited IPO Timeline
Basis of Allotment: Monday, June 24
Initiation of Refunds: Tuesday, June 25
Credit of Shares to Demat: Tuesday, June 25
Listing Date: Wednesday, June 26
Investors who were successfully allotted the shares of the company will have their demat accounts credited on June 25. The refund procedure will begin on Friday, as soon as the allotment is finalised.
About GEM Enviro Management Limited
Incorporated in February 2013, GEM Enviro Management Limited is a waste management agency specialising in recycling all packaging waste, including plastic waste. The company's services include EPR (Extended Producer Responsibility) fulfillment for all kinds of dry waste (Plastic, E-Waste, Battery, Tyre), ESG (Environment, Social and Governance) Consulting & BRSR (Business Responsibility and Sustainability Reporting) reporting and project advisory & management for plastic credits.
GEM has a pan-India presence with a vast network of waste collectors and recyclers. Their clientele includes Coca-Cola, Varun Beverages, Mamaearth, Himalaya, and Herbalife among many of the leading multinational and Indian companies.
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