Namo eWaste Management IPO Allotment Today; Step-By-Step Guide To Check Status

The initial public offering of Namo eWaste Management Ltd. received a strong response from the investors. The IPO, which concluded on Friday, was subscribed 225.64 times, led by demand from retail Investors.

The allotment for Namo eWaste Management IPO will be finalised on Monday, September 9. Investors who bid for the issue can check the IPO allotment status on the IPO registrar's website.

Maashitla Securities Pvt. Ltd. is the registrar for the issue. 

• Visit the IPO allotment status page on Maashitla Securities.

• Choose "Namo eWaste Management" from the list of companies. (Name will be populated once the allotment is finalised)

• Choose your identifier (PAN, Application number or Demat account number).

• Enter the required details and click on 'Submit' to check your allotment status.

Namo eWaste Management IPO will list on the NSE SME platform with a tentative listing date fixed as Wednesday, September 11.

• IPO Open Date: Wednesday, September 4

• IPO Close Date: Friday, September 6

• Basis of Allotment: Monday, September 9

• Initiation of Refunds: Tuesday, September 10

• Credit of Shares to Demat: Tuesday, September 10

• Listing Date: Wednesday, September 11

Namo eWaste is a sustainable and cost-effective electronic waste management company. According to the information on the company's website, it provides comprehensive e-Recycling services in India for disposing of eWaste efficiently and in an environmentally friendly way.

The company offered 60.24 lakh new shares with the price band set between Rs 80 and Rs 85 per share. The company aims to raise Rs 51.20 crore to meet the following objectives:

1. Funding the capital expenditure requirements of its subsidiary i.e. Techeco Waste Management LLP, towards setting up of a new factory unit at Nashik.

2. To meet working capital requirements.

3. General corporate purpose.

For the fiscal year ending March 31, 2024, the company reported a 73% increase in revenue compared to the previous year. Additionally, its profit after tax surged by 183%.