Namo eWaste Management Ltd IPO Timeline

Namo eWaste Management Ltd IPO opens on 04-Sep-2024, and closes on 06-Sep-2024. The Namo eWaste Management Ltd IPO bid date is from 04-Sep-2024 to 06-Sep-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Namo eWaste Management Ltd IPO Opening Date 04-Sep-2024
Namo eWaste Management Ltd IPO Closing Date 06-Sep-2024
Basis of Allotment 09-Sep-2024
Initiation of Refunds 10-Sep-2024
Credit of Shares to Demat 10-Sep-2024
Namo eWaste Management Ltd IPO Listing Date 11-Sep-2024

Namo eWaste Management Ltd IPO Lot Size

Namo eWaste Management Ltd IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or 136000).

Application Lots Shares Amount
Minimum 1 1600 ₹136000
Maximum 1 1600 ₹136000

Namo eWaste Management Ltd IPO Details

Namo eWaste Management Ltd IPO Date 04-Sep-2024 to 06-Sep-2024
Namo eWaste Management Ltd IPO Face Value Shares of ₹10 per share
Namo eWaste Management Ltd IPO Price ₹80 to ₹85 per share
Namo eWaste Management Ltd IPO Lot Size 1600
Issue Size Shares of ₹10 (aggregating up to ₹51.2 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹51.2 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Akshay Jain, Rachana Jain.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Funding the capital expenditure requirements of the subsidiary i.e Techeco Waste Management LLP towards setting up of a new factory unit at
  • 2 To Meet Working Capital Requirement
  • 3 General Corporate Purposes

Company Financials

Namo eWaste Management Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 39.12 58.56 2.42
03-2022 41.74 45.09 1.81
03-2021 26.69 30.61 1.93
Amount in ₹ Crore
  • A dedicated service provider for collection, management and recycling of E-waste material through in-house factory unit.
  • Stringent quality control mechanism ensuring standardized product quality.
  • Diversified revenue from multiple geographies.
  • Synergy of young and experienced management team.
  • The company is an authorised E-waste recyclers to carry on the business of Ewaste collection, disposal and recycling. Failure to renew it in a timely manner may result in fines, legal penalties, or even business shutdown.
  • The company is primarily dependent upon few key suppliers within limited geographical location for collection and recycling of electronic waste, with whom the company has entered into long term purchase agreements which imposes fixed pricing conditions, stipulating that the company must purchase the materials at predetermined prices irrespective of market fluctuations.
  • The company generate its major portion of sales from its operations in certain geographical regions and any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.
  • If there is delay in setting up of proposed factory unit or if the costs of setting up and the possible time required to set up Proposed factory unit by its subsidiary i.e. Techeco Waste Management LLP, are higher than expected, it could have an adverse effect on its financial condition, results of operations and growth prospects.
  • The company has not complied with certain statutory provisions of the Companies Act, 2013. Such non-compliance may attract penalties against the Company which could impact the financial position of it to that extent.
  • The company had made capital expenditure in year 2019, to set up a factory unit in Khata No. 150, Survey No. 22, Old Survey No. 27, Sub District Mandal, Anandpura, 382120, Ahmedabad, Gujarat, which is owned by company but the same is not operational as on the date of this Draft Red Herring Prospectus.
  • The company has not registered the trademarks which its using for the company's business. Its may be unable to protect its intellectual property or knowhow from third party infringement which could harm its brand and services.
  • The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.
  • The company does not own the registered office, factory unit, branch office, warehouse and Storage & Dismantling unit from which the company carry out its business activities. In case of nonrenewal of rent agreements or dispute in relation to use of the said premise, its business and results of operations can be adversely affected.
  • Substantial portion of its revenues has been dependent upon few customers, with which the company does not have any firm commitments. The loss of any one or more of its major customer would have a material adverse effect on the company's business, cash flows, results of operations and financial condition.
  • The company requires certain approvals, licenses, registrations and permits to operate its business, and failure to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operate its business may adversely affect the company operations and financial conditions.
  • Under-utilization of its recycling capacities and an inability to effectively utilize the company expanded recycling capacities could have an adverse effect on its business, future prospects and future financial performance.
  • The Company, Promoters and Directors are parties to certain legal proceedings. Any adverse decision in such proceedings may have an adverse effect on its business, results of operations and financial condition.
  • The company is subject to competition from both organized and unorganized players in the market, which may adversely affect its business operation and financial condition.
  • Its insurance coverage may not be adequate to protect it against certain operating hazards and this may have a material adverse effect on its business.
  • The Company had negative operating cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
  • The company intend to utilise a portion of the Net Proceeds for funding its capital expenditure requirements in the proposed facilities to be set up in Nashik. The company is yet to place orders for such capital expenditure machinery.
  • Inventories and trade receivables form a major part of its current assets. Failure to manage the company's inventory and trade receivables could have an adverse effect on its net sales, profitability, cash flow and liquidity.
  • Its historical performance is not indicative of the company's future growth or financial results and its may not be able to sustain our historical growth rates.
  • Its promoter group entity i.e. Vardhman Sales Agency operate in the same line of business as it, which may lead to conflict of interest.
  • Adverse publicity regarding its products could negatively impact the company.
  • The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
  • Its Contingent Liability and Commitments could affect the company financial position.
  • Its recycling activities require deployment of labour and depends on availability of labour. In case of unavailability of such labour, its business operations could be affected.
  • The company is heavily dependent on its Promoters and Key Managerial Personnel for the continued success of its business through their continuing services and strategic guidance and support.
  • Compliance with, and changes in, safety, health and environmental laws and labour regulations may adversely affect its business, prospects, financial condition and results of operations.
  • The Objects of the Issue for which funds are being raised, are based on its management estimates and have not been appraised by any bank or financial institution or any independent agency.
  • The Company has taken unsecured loans that may be recalled by the lenders at any time and the Company may not have adequate working capital to make timely payments or at all.
  • Changes in technology may render its current technologies obsolete or require the company to make substantial investments.
  • Activities involving its recycling process can cause injury to people or property in certain circumstances. A significant disruption at any of its recycling facilities may adversely affect the company production schedules, costs, sales and ability to meet customer demand.
  • The average cost of acquisition of Equity Shares by its Promoters, is lower than the face value of Equity Share.
  • The company has issued Equity Shares in the last 12 months at a price which could be lower than the Issue Price.
  • Dependence upon third party transportation services for supply and transportation of its products are subject to various uncertainties and risks, and delays in delivery may result in rejection of products by customer.
  • The Promoters (including Promoter Group) and Directors hold almost 93.67% of the Equity Shares of the Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
  • The company cannot assure you that its will be able to secure adequate financing in the future on acceptable terms. Its failure to obtain sufficient financing could result in delay or abandonment of its business plans and this may have an adverse effect on the company's growth and operations.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
  • The company has incurred indebtedness which exposes it to various risks which may have an adverse affect on its business and results of operations.
  • Loans availed by the Company has been secured on personal guarantees of its Director. The company's business, financial condition, results of operations, cash flows and prospects may be adversely affected in case of invocation of any personal guarantees provided by its Directors.
  • The company has not received NOC from one of its lender for undertaking the initial public offer of equity shares.
  • The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
  • The company may not be able to sustain effective implementation of its business and growth strategy.
  • The company is subject to the restrictive covenants of banks in respect of the Loans/ Credit Limits and other banking facilities availed from them.
  • Relevant copy of educational qualification of one of its promoter i.e. Rachna Jain is not traceable.
  • Its may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
  • Any Penalty or demand raised by statutory authorities in future will affect its financial position of the Company.
  • Industry information included in this Draft Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
  • Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on its business, results of operation or financial condition.
  • Information relating to its production capacities and the historical capacity utilization of its production facilities included in this Draft Red Herring Prospectus is based on certain assumptions and has been subjected to rounding off, and future production and capacity utilization may vary.
  • Its ability to pay any dividends will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
  • There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
  • Its Promoters and the Promoter Group will jointly continue to retain majority shareholding in the Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
  • Certain key performance indicators for certain listed industry peers included in this Draft Red Herring Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
  • The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
  • There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of National Stock Exchange of India Limited in a timely manner or at all.
  • The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy its capital needs, which the company may not be able to procure and any future equity offerings by the company.
  • The Issue price of its Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of its Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • Investors other than retail (including non- institutional investors and Corporate Bodies) are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Amount) at any stage after submitting an Application.
  • Certain data mentioned in this Draft Red Herring Prospectus has not been independently verified.
  • QIBs and Non-Institutional Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid and Retail Individual Investors are not permitted to withdraw their Bids after Bid/Issue Closing Date.
  • Expand its Domestic presence in existing and new markets.
  • Setup of new integrated factory unit through its subsidiary i.e. Techeco Waste Management LLP.
  • Focus on consistently meeting quality standards.
  • Scale up branding and promotional activities.

Namo eWaste Management Ltd IPO Promoter Holding

Pre Issue Share Holding 84.57%
Post Issue Share Holding 62.29%

Namo eWaste Management Ltd IPO Subscription Status (Bidding Detail)

The Namo eWaste Management Ltd IPO is subscribed 209.8741 times on Sep 06, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 209.8741

Namo eWaste Management Ltd IPO Prospectus

Namo eWaste Management Ltd IPO Listing Date

Listing Date 11 Sep 24
BSE Script 93015
NSE Symbol NAMOEWASTE
Listing In NSE - SME
ISIN INE08NZ01012
IPO Price ₹85
Face Value ₹10

Namo eWaste Management Ltd IPO Registrar

Maashitla Securities Pvt Ltd

Phone: +91-11-45121795
Email: ipo@maashitla.com
Website: www.maashitla.com

Namo eWaste Management Ltd IPO Lead Manager(s)

  1. Hem Securities Ltd

FAQs on Namo eWaste Management Ltd IPO

Namo eWaste Management Ltd IPO, which opens for subscription from 04-Sep-2024 to 06-Sep-2024 has an issue size of ₹51.2 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Namo eWaste Management Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Namo eWaste Management Ltd IPO Opens for subscription from 04-Sep-2024 to 06-Sep-2024.

The lot size of Namo eWaste Management Ltd is 1600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹136000 and ₹136000 respectively.

Allotment date for Namo eWaste Management Ltd is 09-Sep-2024 and refund of application amount (in case allotment is not received) will begin from 10-Sep-2024. If your allotment goes through, then shares will be credited in your Demat account by 10-Sep-2024.

The registrar for Namo eWaste Management Ltd IPO is Maashitla Securities Pvt Ltd. You can check your IPO allotment status on the registrar's website.

The shares of Namo eWaste Management Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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