Apex Ecotech was established in 2009 and offers wastewater and water treatment services. Sewage treatment plants, effluent treatment plants, and raw water treatment plants are among its offerings. Reuse and recycling solutions for industrial operations are another area of expertise for Apex Ecotech. Prominent enterprises and industrial groupings represent the company’s clients.
Apex Ecotech IPO listing:
Apex Ecotech, a provider of wastewater treatment, recycling, and reuse solutions, made a strong launch on the NSE SME today, maintaining its upward trajectory to reach the upper circuit less than five minutes after listing. The stock of the firm was launched at Rs 138.70 per share, which was 90% more than the Rs 73 IPO allotment price.
The market shares gained 99.45% from the issue price to reach the upper circuit of Rs 145.60 per share on the NSE SME after listing, gaining an additional 4.97 percent. Before trading was stopped, about 0.10 million shares, worth Rs 614.90 crore, were exchanged during the session.
Notably, listing gains for SME stocks have been restricted by the Securities and Exchange Board of India (Sebi), the capital market regulator, to 90% of the issue price.
Given that Apex Ecotech’s shares were trading at a significant premium on unofficial markets, the company’s IPO listing is consistent with gray market patterns. According to sources monitoring grey market activity, Apex Ecotech shares were trading at a premium of Rs 45 over the issue price prior to the listing, resulting in a grey market premium (GMP) of 61.64%.
Updates On Apex Ecotech IPO:
Investor demand for the Apex Ecotech IPO was so great that it was oversubscribed more than 450 times before it ended for subscriptions on Friday, November 29, 2024. With a lot size of 1,600 shares, the Rs 25.54-crore offering consists of a completely new issue of 3,499,200 shares priced between Rs 71 and Rs 73 per share. Finalization of the IPO allotment took place on Monday, December 2, 2024. When the bidding ended on November 26, 2024, Apex Ecotech also revealed that it had raised Rs 7.22 crore from anchor investors. The Apex Ecotech IPO’s book-running lead manager is Share India Capital Services, and the issue’s registrar is KFin Technologies.
The company showed in its Red Herring Prospectus (RHP) that it plans to use the net proceeds from the new issue for general corporate purposes and to satisfy working capital requirements. The money that remains will be used to pay for the costs of the public problem.
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Authored by – Deepa Trivedi
Apex Ecotech
IPO
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