An upcoming opportunity in the stock market is the IPO of Urban Enviro Waste Management Company, scheduled to hit the market on June 12. The IPO will be open for subscription from June 12 to June 14.
Urban Enviro Waste Management is a company that provides waste disposal and management services.
The company aims to raise Rs 11.42 crore through the IPO. The IPO will consist of a fresh issue of 9.20 lakh equity shares and an offer for sale (OFS) of 2.22 lakh equity shares.
The shares will be listed on NSE EMERGE, which is a platform for small and medium enterprises.
Successful IPO of Ikeo Lighting
The IPO of Ikeo Lighting, a manufacturer of LED equipment, recently closed with great success. It received a total subscription of 66.29 times on the third and final day of the issue.
The company received bids for 100,92,76,892 shares against the offer of 1,52,24,074 shares in the IPO worth Rs 606.5 crore.
Eligible institutional investors showed strong support for the IPO, with a subscription of 163.58 times in this category.
The non-institutional investor segment witnessed a subscription of 63.35 times, while the retail individual investor segment had a subscription of 13.86 times.
The IPO included new shares worth Rs 350 crore and an offer for sale (OFS) of 90 lakh shares.
The price band for the IPO was set at Rs 270 to Rs 285 per share. Ikeo Lighting raised Rs 182 crore from anchor investors prior to the IPO.
