India’s leading non-ferrous metal scrap company ‘Nupur Recyclers’ IPO listed on NSE Emerge platform

The leading name in India’s importation ground of non-ferrous metal scrap such as aluminium Zorba grades among other scrap metals, Nupur Recyclers has settled the share allotment for its initial public offering (IPO).

On 23^rd December 2021, Nupur Recyclers has listed on a premium of 23.33% at the NSE Emerge platform, emerging as the most prominent SME IPO of India in 2021. However, the premiums scaled up to approximately 30% in just a few hours in the later period.

The IPO of Nupur Recyclers was opened for subscription during 13^th-15^th December 2021, while it was subscribed for 41.37 times, with bids coming in for 23 crore shares against an offer size of 57 lakh equity shares at a fixed price of INR 60 per equity share. The minimum lot size for investment was 2000 shares and the minimum investment was INR 120,000.

The public issue subscribed 34.23 times in the retail category and 53.01 times in the NII category on 15^th December 2021, the third day. Nupur Recyclers was counting to raise INR 34.2 crore at the fixed price of INR 60 per share.

The Indian metal processing and scrap company is leading with the strong vision of organizing the unorganized market for metal scrap in India. However, to attain this, Nupur Recyclers in association with numerous shredder & floatation plants in Europe & the USA for the import of substances such as Aluminium Zorba grades and lot many non-ferrous scraps.

Nupur Recyclers has validated remarkable growth Y-o-Y in revenue in FY 20-21 recorded with INR 105.98 crore and is anticipated to perform more than 50% growth this fiscal year. The metal scrap company has allied with several nations around the world and has worked on some major projects in European nations.